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More new homes than ever being developed in Limassol

Posted by harps@themediapeople.co.uk on June 22, 2023

There are around 806 properties just 10 years old in Limassol, with even more new developments on the horizon.

As a sign of Limassol’s growth as a popular real estate location, the area is now home to 806 new developments (up to 10 years old).

There is a grand total of 52,259 buildings in Limassol, and while they are dominated by older buildings (more than 50 years old), there is clearly a surge in recent residential development.

In a recent study, Ask Wire drew on their expertise in the residential sector to look at how the ages of certain buildings vary from area to area.

Predictably, the majority of older buildings are situated close to the city centre, with 20,115 properties that have been around for more than 50 years.

Additionally, there are 18,571 properties aged 30-50 years, 1503 properties aged 10-20 years, and 11,264 that are 20-30 years old.

However, it’s hard to ignore the fast pace with which new developments are springing up around Limassol. The area most popular with residential development has been the west of Limassol, particularly in the Erimi and Zakaki regions.

Elsewhere, the bulk of growth in East Limassol has focussed on popular tourist destinations like Agia Fyla and Papa.

And this trend towards new properties for sale Limassol hasn’t shown any sign of slowing down. In fact, construction has started for a further 163 housing developments between January 2022 to March 2023.

But what explains this growing trend towards residential development? For starters, there was huge population growth in Limassol in 2022, contributing to increased demand for buying and renting in the city.

Limassol has also become something of a goldmine for real estate development, as people from around the world flock to enjoy the stunning weather and great business opportunities.

With plenty of new properties being developed in popular parts of Limassol, now could be the perfect time to invest in Limassol real estate.

If you want to take advantage of the recent growth of housing developments in Limassol, Chris Michael Property Group is the perfect place to start. We have an enviable range of apartments, villas and traditional homes in Limassol, perfect for you to fulfill your real estate dreams.

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