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8,000 Apartments Can Appear in Limassol

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According to the report of the Cyprus fintech company Ask WiRE, there is a potential for the construction of new buildings in Limassol. At the same time, many plots of land are currently empty.

The Cyprus fintech company Ask WiRE has processed data related to one of the most sought-after areas of Limassol, commonly called Papas. This area is located south of Kolonakiu Avenue, near the Kean Beverage factory.

Conclusions. The study found that there is potential for the 8,000 additional apartments construction in the relevant area. The company explained there is enough space for an additional 803,164 square meters of housing based on existing urban development zones. In total, the researchers have identified 1,515 vacant land plots with a total area of 1,571,729 square meters.

Quote. "Ask Wire's research has established that there are many plots of land in the central areas of Cypriot cities that remain unused or partially exploited," the company said in a statement.

"As a result of the retention of land or the construction factor, there is a significant increase in both real estate sales prices and rents for residential units, primarily for apartments," analysts concluded.

Decision. Ask Wire CEO Pavlos Loizu notes that "taxation of unused real estate in areas with high demand is the only way to convince its owners to either develop it or get rid of it."

Propreties for sale in Cyprus:
Townhouse for 135 000 euro in Paphos, Cyprus
135 000 €
Townhouse in Paphos, Cyprus
135 sq.m 4 3 3
Residence Credit 4.5-5%
The city of Paphos Universal District townhouse for sale 3 bedrooms, three bathrooms. Details by phone + 7 925 506 85 03 - What's App, - Alexander
METR 777
Apartment for 657 000 euro in Limassol, Cyprus
657 000 €
Apartment in Limassol, Cyprus
101 sq.m 2 1
Residence
The project consists of four buildings located on the west side of Santa Barbara Hill, a quiet hill on the east side of Limassol. Its superb location on a hill in one of the most prestigious areas of Limassol, surrounded by breathtaking views of the sparkling Mediterranean Sea. Each apartment is designed and located in such a way as to provide...
BLUE SKY HOUSES
Villa for 309 218 euro in Kyrenia, Cyprus
309 218 €
Villa in Kyrenia, Cyprus
106 sq.m 3
Residence Online Viewing Remote Transaction
Cozy, quiet complex. Nearby there is all the infrastructure that is necessary for life and recreation. A spacious roof terrace with a barbecue area will brighten up the weekend for its owners. Panoramic views of the sea and mountains. The apartments are ideal for recreation, rental and permanent residence.A new residential complex, from one of...
Leverage Investments
Apartment for 157 526 euro in Esentepe, Cyprus
157 526 €
Apartment in Esentepe, Cyprus
50 sq.m 2 1 1
Residence Online Viewing Remote Transaction
Apartment 1+1 ( 50 m2 ) + 10m2 terrace in an elite complex on the first line from the sea. The complex will be built in a stunning location, right on the shores of the Mediterranean Sea. It will consist of apartments of different sizes and layouts. Thanks to the successful landscape of the site, absolutely all objects will have a view of the sea...
Leverage Investments
House for 384 855 euro in Kyrenia, Cyprus
384 855 €
House in Kyrenia, Cyprus
110 sq.m 3 2
LM-104u. New luxury townhouses under construction Kyrenia | Esentepe 2 bedroom new LUX townhouses + off plan + sea and mountain views + superb location + payment plan. The project will be built on the first coastline, in one of the most picturesque and prestigious areas of Northern Cyprus - Esentepe. The complex will consist of 4 detached...
Red Feniks North Cyprus
Flat for 355 000 euro in Limassol, Cyprus
355 000 €
Flat in Limassol, Cyprus
132 sq.m 4
Residence
For sale apartment of 132rs in Limassol. The apartment is situated on the floor. Flat has interior layout. The owners will be leaving the furniture with the sale. Extras included with the property: parking space.
Mercury Group
Studio for 91 200 euro in Iskele, Cyprus
91 200 €
Studio in Iskele, Cyprus
36 sq.m 1 1 1
Remote Transaction
We present to your attention a new unique and grandiose project in Northern Cyprus, Iskel.The complex will be located within walking distance from the most popular beach in Cyprus, Long Beach, so it is ideal for both leisure and life. The large-scale project consists of 21 blocks of various storeys - 12, 16 and 22 floors, and 32,500 m2 of green...
ALTOP Real Estate
Cottage for 350 000 euro in Paphos, Cyprus
350 000 €
Cottage in Paphos, Cyprus
122 sq.m 4 3 2
Remote Transaction
Fully renovated 3 bedroom villa in the popular Paradise Gardens complex within walking distance of the beach and infrastructure in Kato Paphos. Located in the popular Universal area, this villa offers convenience right on your doorstep. Take a short walk to the beach and nearby attractions and enjoy easy access: 15 minutes drive to the airport...
ABC CYPRUS HOMES
Villa for 845 000 euro in Limassol, Cyprus
845 000 €
Villa in Limassol, Cyprus
165 sq.m 4 3
Residence
We present a new project, an exquisite collection of forty apartments with 1-, 2-, 3-bedrooms, four-bedroom penthouses and ten modern villas with 3- and 4-bedrooms. This is a place where elegance is combined with comfort: spacious layouts, a comfortable living room area, bathrooms are complemented by exquisite plumbing. - it is a quiet oasis of...
BLUE SKY HOUSES
Villa for 680 000 euro in Paphos, Cyprus
680 000 €
Villa in Paphos, Cyprus
189 sq.m 3 3
Residence
A beautiful house located in the prestigious area of Neo Chorio, a suburb of Paphos, just 200 meters from the beautiful sandy beach and just a 5-minute drive from Latchi Harbor, where there are many restaurants, shops, cafeterias and entertainment. A closed driveway leads to the house, surrounded by a beautiful landscaped garden, which ends with...
BLUE SKY HOUSES
Penthouse for 449 000 euro in Paphos, Cyprus
449 000 €
Penthouse in Paphos, Cyprus
275 sq.m 5 3
Residence
A stunning penthouse in the heart of Paphos demonstrates an exquisite lifestyle with spacious interiors. The property includes five bedrooms, three well-equipped bathrooms, which provides convenience and luxury. Experience the beauty of outdoor living in a welcoming patio - an ideal place to enjoy the Mediterranean climate. Due to its central...
BLUE SKY HOUSES
Apartment for 178 900 euro in Esentepe, Cyprus
178 900 €
Apartment in Esentepe, Cyprus
47 sq.m 1 1
Residence Online Viewing Remote Transaction Cryptocurrency payment
Vikingen Sunse residential complex. 1 Bedroom Apartments Area: 46.49 m2 Terrace: 10.06 m2 + garden Price from £ 124,900 area from 50 sq.m.Payment plan £5000 deposit, 35%/15%/15%/15%/5% Description of the complexThis boutique project is being built on the east coast of the island, in the picturesque Esentepe region, with spectacular views of the...
Skyphoenix Homes
Apartment for 580 000 euro in Limassol, Cyprus
580 000 €
Apartment in Limassol, Cyprus
97 sq.m 2 2 2
Residence
Discover an exceptional living opportunity in a new contemporary project encompassing three blocks of luxurious residences. This complex boasts an array of apartment sizes, ranging from cozy 1 and 2 bedroom to expansive 3-bedroom, catering to diverse lifestyles. Nestled in a peaceful residential neighborhood, this project offers a quiet...
Cyprus Sotheby's International Realty
Apartment for 510 000 euro in Limassol, Cyprus
510 000 €
Apartment in Limassol, Cyprus
66 sq.m 1 1
Residence
BLUE SKY HOUSES
Villa for 2 200 000 euro in Paphos, Cyprus
2 200 000 €
Villa in Paphos, Cyprus
300 sq.m 6 5 4
Residence Online Viewing Remote Transaction Cryptocurrency payment Rental property
Permanent residence under the accelerated program. Modern villa in a coastal 5* Premium class complex in the suburbs of Paphos. These villas are located in one of the most beautiful parts of the island and are just a 5-minute walk from the flagship Cap St Georges Hotel project & A resort offering stunning views of the Mediterranean Sea. The...
ABC CYPRUS HOMES
Apartment for 370 000 euro in Iskele, Cyprus
370 000 €
Apartment in Iskele, Cyprus
163 sq.m 4 3 2
Residence Online Viewing Remote Transaction
Apartments for Sale Close to the Beach in İskele Boğaz İskele, famous for its unique beaches, stands out as a region that attracted the attention of Forbes with its investment opportunities. Although skyscrapers have been built in İskele recently, Boğaz has low-rising buildings. Therefore, it preserves its natural environment. Boğaz attracts the...
TEKCE
Penthouse for 527 000 euro in Gazimagusa, Cyprus
527 000 €
Penthouse in Gazimagusa, Cyprus
140 sq.m 4 3 2
Residence Online Viewing Remote Transaction
Apartments in Advanced Complex in North Cyprus Famagusta The Tatlisu region, located in the northern part of Famagusta, which is famous for its valuable beaches on the island of North Cyprus, stands out as a charming Mediterranean town. Tatlisu town has many beaches, piers, and social facilities, as well as various daily necessities such as...
TEKCE
Apartment for 205 000 euro in Larnaca, Cyprus
205 000 €
Apartment in Larnaca, Cyprus
99 sq.m 2 2
BLUE SKY HOUSES
Apartment for 675 000 euro in Larnaca, Cyprus
675 000 €
Apartment in Larnaca, Cyprus
200 sq.m 2 2
Residence Online Viewing Remote Transaction Cryptocurrency payment
The complex includes two modern buildings equipped with all necessary amenities. There are apartments with one, two and three bedrooms to choose from. Common spaces combine luxury and practical minimalism. The apartments themselves are equipped with the latest technology. They have air conditioners, video intercoms, a control panel for the...
Kotinos
Studio for 197 000 euro in Larnaca, Cyprus
197 000 €
Studio in Larnaca, Cyprus
63 sq.m 1 1
Online Viewing Remote Transaction Cryptocurrency payment
This is a fresh project from a major developer in an up-and-coming area of ​​Larnaca near a new marina. The luxurious building is located just 700 meters from the new marina and consists of spacious apartments and penthouses with roof terraces. The apartments are in a great location, just 2 minutes from the center of Larnaca. The penthouses and...
Kotinos

Source: Cyprus Property News
Photo by Alexander Chupikov on Unsplash

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