Over the past year, property sales in Cyprus have increased by 68% compared to 2017. And the beginning of 2018 has already brought tangible growth - in January the number of purchase and sale transactions was 64% higher than in the same period last year. Against the background of the high demand for Cypriot housing, any information about obtaining permits for the construction of new facilities and about putting up for sale real estate is perceived in a positive way by all investors, without exception.
In Limassol, in the very near future, two luxury residential complexes will be built. We are talking about the Icon complex, which will appear in the popular tourist area of Germasogeia, and the Symbol complex, which will be built near the city center, within walking distance of the Mediterranean beach.
The Icon complex will have 21 floors and will include 54 elite residences. Its construction is being carried out by Imperio Properties. According to the available information, the complex will include an extensive infrastructure for entertainment and recreation: restaurants, a fitness center, a swimming pool, a tennis court. The apartments of the complex are designed for wealthy buyers. They will be equipped with underfloor heating systems, air conditioning. There will be a round-the-clock registration and concierge service for the future owners. All rooms will be serviced, dry cleaning and sewing will be available. The Icon complex is slated for completion by the end of 2020.
The twelve-storey Symbol complex will be located on an area of 4,600 sq. m. The area of the premises will be over 7,000 sq. m. m. Construction is scheduled to begin this summer. It is known that the development of the project was carried out by the Spanish architect Ricardo Bofillou, and the cost of the construction of the building is estimated at 40 million euros. The residents will have an underground parking, a fitness center, a swimming pool, a garden with recreation areas.
The emergence of these luxury properties in the Cyprus property market, and such other residential and commercial projects, indicate that the Cyprus property market is growing at a rapid pace as developers strive to meet the growing investor needs by introducing new housing as soon as possible. At the same time, it is important to note that the quality of new buildings in Cyprus does not fall.
