Development and investment in the Cyprus real estate market is more popular now than ever before. Could you be tempted by a luxury development?
Limassol’s beautiful sea front is truly breathtaking
As I go about my daily life in Limassol, it seems that new-build developments are popping up by the month. Each one is different, too. Morphed into modern shapes, with curves and dome-like structures that are now more high-rise than ground-spread to accommodate the decreasing available ground building area in Cyprus.
To help demonstrate what’s going on in the world of Cyprus real estate, I’ve picked two property developments in Limassol to show you. They illustrate two ends of investment spectrum.
Limassol’s off-plan development boom
The proposed interior for this off-plan residential project in Limassol
Firstly, I’d like to show you a uniquely-shaped residential investment opportunity lies in a block containing 17 apartments. But the word ‘block’ doesn’t describe this development, as its modern silhouette and plans for green spaces add life to the design.
Find homes in Cyprus via our property portal.
You’ll find this development in Agia Zoni in Limassol. It’s a very popular area to live because it is very near Gladstonos and Makariou, where you can find branded shopping stores alongside department stores, plush restaurants, and cafes. There’s an abundance of nightlife here too, with wine bars, pubs and other entertainment available. As always, the coastline and the sea is always within eyesight, with its street cafes and restaurants. Nothing is very far away in Cyprus, and the Old Limassol Town with its sandstone architecture, tavernas and cafes are within a stone’s throw of this building. The investment price starts at just €273,000 euros.
Find out more and enquire today
Stunning plans for the new off-plan development in Limassol
Luxury off-plan developments in Limassol
This mixed type of combination development is the latest trend in Cyprus. Traditionally, apartment and office buildings were always separate from each other, but now they are combined in one development project. This gives an investor the best of the residential and commercial worlds all at the same time.
This investment development involves a brand-new 12-floor residential building containing 2-bedroom apartments and a penthouse that you can find in the Limassol-Dasoudi area. There are also commercial retail units and offices on the ground and lower ground floors. It boasts wonderful sea views across the perfect blue Mediterranean sea.
Enquire about this development today
The exterior of the building is uniquely designed to represent the funnel of a ship, so reflecting Cyprus’s renowned maritime tradition. This external design is a big step forward for Cyprus. Externally, new apartment blocks used to be just that – rectangular blocks! The “boat” shape design of this example, according to my architect daughter, is the latest design trend in Cyprus.
You will find this property a short step away from one of Limassol’s abundantly awarded sandy beaches, so a relaxing swim or sunbathe and a host of water sports activities are always there. This particular example is located on Limassol’s main coastal road that also has quick, central access to shopping malls, boutiques and also Limassol’s unique restaurants and cafes. The investment price ranges from 1,656,000 euros to 1,866,000 euros, plus VAT.
Your new build home in Cyprus
Latest building design requirements
Cyprus has recently been affected by the eco-efficiency measures legislation enacted by the European Parliament. The legislation intends to decrease carbon emissions. It means that all new buildings, of whatever size and use, must have zero emissions from 2028. New buildings must also have solar-facilitated systems as well by 2028, if this is possible.
Older buildings undergoing renovations must also contain energy upgrades by 2032. Regarding buildings’ energy performance, all residential buildings have to achieve Class E by 2030 and Class D by 2033. Failure to meet these performance standards means that the building, new or old, cannot be mortgaged or its ownership title deeds transferred when the building is sold. (Financial Mirror, 2023)
You might also like:
