Complete with 300 days of sunshine, stunning landscapes and a recovering property market, Limassol in Cyprus is the new hotspot for real estate investment in the Mediterranean. International buyers and investors alike are being drawn to the cosmopolitan city due to recent price growth and the revised citizenship-by-investment programme which was introduced late last year. An iconic new development, Limassol Del Mar, has had excellent sales success since launching last year, with apartments in Buildings of 17 levels nearly sold out and the launch of Building of 27 levels on the horizon. Located on Limassol’s coveted coastline, a high end residential area, the landmark development will stretch across an impressive 170 metres of sea frontage, allowing unobstructed sea views from the ground to the top floor apartments.
The citizenship-by-investment scheme is particularly appealing to global butterflies who spend their time between various destinations, as it not only grants the buyer citizenship to Cyprus but also the right for the whole family to obtain citizenship and therefore travel to 157+ countries. Cyprus also benefits from zero inheritance, wealth, gift and immovable property taxes.
A destination with international appeal, Cyprus can be reached in just over four hours from London, Moscow and Dubai, with direct flights running frequently. Also proving a lucrative investment opportunity, the latest quarterly index from the Royal Institution of Chartered Surveyors (RICS) showed price increases in almost all cities across Southern Cyprus, with the biggest increase seen in Limassol. The report also indicated that during the third quarter of 2016, the Cyprus economy showed further signs of stability, with the economy performing better than expected.
Unlike any other destination in this fast evolving city, Limassol Del Mar is soon to become the byword for the ultimate shopping experience in Cyprus and a destination in its own right for local and foreign visitors. Le Plaza Del Mar, a commercial offering within the ground floor of the development, will play host to a signature restaurant, cigar lounge, wine bar and an exclusive collection of high end boutiques. The highly anticipated project will comprise a selection of two to six bedroom properties with generous living spaces; phase one is due to complete in summer 2019. In addition to an enviable location, residents will enjoy an array of five star facilities including a spa, gym, residents lounge, concierge, club house, and an outdoor and indoor swimming pool.
Apartments in Buildings A and B are nearly sold out at Limassol Del Mar and a new tower is due to launch in the coming months. Two bedroom apartments in the higher floors of the development are currently available from just under 2m Euros.
For more information or to arrange
a private appointment contact:
Limassol, Cyprus
T +357 25 510883
limassoldelmar.com/ft
