Limassol is one of the most popular tourist destinations in Cyprus and this city also captivates the attention of most foreign investors. Between 2016 and 2017, the average price for apartments rose with more than 10% and homes enjoyed a property value increase of 6.2%. Some luxury homes and accommodations in this city increased in market value by as much as 34% in just one short year.
It is clear that everyone want to invest in this great location but what does make a great location great in Limassol? What is the main attraction that inspires so much growth and foreign investors? Here are the top factors that affect the appeal of Limassol locations;
It is on the coast
Limassol is located on the coast. Naturally, the beauty of an ocean view and plenty of water activities to enjoy has a huge impact on the popularity of property in this location. Tourism flourish and businesses are constantly surfacing just because people love to enjoy the beach. Just about all properties with a beach view are instantly considered as great.
The city is safe
Despite the dramatic increase and growth in the city, it is still relatively safe. The crime rate in Limassol is very low and it is pretty safe to walk the streets during daytime or nighttime. In fact, Limassol’s biggest worry is corruption and bribery which isn’t very life-threatening.
The city and beaches are clean
Limassol is a major tourist attraction and people here do what they can to keep the city and beaches sparkly clean. All in all, it is a very attractive and organised place to live in.
Friendly local people
Cypriots welcome tourists, travelers, and even foreign investors because they realise just how important these individuals are to the economy. After surfacing from a 10-year long recession all Cypriots want to do is to flourish in their careers and businesses.
Strong shipping sector
The city is also home to a very strong shipping sector which creates plenty of job opportunities and makes it much easier for businesses to get ahold of imported products for redistribution.
The first casino resort
In 2021 Cyprus’ first casino resort will open its doors in Limassol. The 550 million Euro casino is bound to contain all sorts of luxuries that will capture the attention of investors and tourists from around the world. Property values in Limassol are bound to skyrocket the moment this casino is launched.
International banks and forex companies
Financial institutes do well in Limassol and residents don’t have a hard time minding their personal finances and investments. It certainly does make the location much more appealing if you can work on a brighter future with ease.
Plenty of businesses
Limassol is rich in plenty of companies which also results in plenty of job opportunities. This in itself is a major attraction factor.
The education factor has a huge impact on the appeal of a location. Limassol has primary and secondary education. Public schools are free but there are also private schools and institutions.
Limassol certainly does have it all and that is exactly why this location is so great. Locations that are close to infrastructure, schools and the beach do exceptionally well and makes for great homes and business opportunities. If you want to invest in great property in Limassol then let our Cyprus property lawyers help you find the best location so you can enjoy a great life.