Water Flowers of Limassol

Limassol is the second largest city in Cyprus and a sizable economic, cultural and financial center with a population of about 280 thousand people. In recent years, the very same “Russian-speaking” city of the island has actively claimed for a leadership in the country’s real estate market, especially when it comes to the elite housing sector. It is here, in Limassol and its environs, along the coastline that the most interesting and prestigious objects of both residential and commercial real estate arise. According to local media, “Limassol’s skyscrapers are both a landmarks expressing the vanguard of architectural thought, and a new way to organize the urban environment.” The new iconic project of the Limassol Tower promises to be a real architectural landmark not only of the city, but of the whole island.

The real estate market of Cyprus is increasingly gaining the position of one of the most stable and dynamically developing markets in Europe. Island real estate is valuable itself and rarely decreases in value, and Cyprus has a high standard of living and excellent conditions for recreation. The country’s economy demonstrates unprecedented stability, holding on to such pillars as tourism, agriculture and shipping - all this makes the Cyprus property market extremely interesting for foreign investors. The construction sector in Cyprus has successfully survived the crisis and has grown at an impressive pace in recent years.

Cyprus is an exceptionally proper place for the creators of architectural projects. The sea, the sun and the picturesque shores form a magnificent background, emphasizing the aesthetic merits of objects and increasing the investment attractiveness of local housing. Coastal Limassol leads the way in building highly profitable real estate and developing infrastructure. Its main competitor on the island is Paphos, but here the offer is limited - the city municipality refused high-rise construction voluntarily, so as not to destroy the historical appearance of the city. Paphos, of course, remains the ancient capital of Cyprus, with attractions and a calm and measured pace of life, while Limassol, on the contrary, is increasingly acquiring the features of a modern metropolis. Larnaca could also compete with Limassol, but according to the Department of Geological Research, the construction of modern multi-story housing in the coastal zone of Larnaca is impossible due to seismic activity and soil characteristics.

In Limassol, the picture is much more optimistic in this regard, and in the city located on the shores of Akrotiri Bay, is well positioned to colossal development. Moreover, from the center of Limassol to the neighboring satellite Amatus, a tourist and resort zone runs along the coast.

Over the past two years, 200 applications for the construction of high-rise buildings have been submitted to the Department of Urban Planning of Limassol, and only 40 of them have been rejected.

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Materials provided by Hamonic + Masson & Associés