Demand on the rise for real estate in Limassol

Interest in office properties in Limassol is booming as foreign companies are tuning their eyes to the city.

The high demand for real estate in Cyprus has resulted in a surge in high-value investments, with the Limassol district topping the number of deals, the Council for Registration of Real Estate Agents reported Thursday, 11 August.
 “Limassol’s development and emergence as a business centre in recent years, with the city more recently becoming a key destination for international technology companies, helps to maintain the sector’s momentum, even after the end of Cyprus’ citizenship by investment programme. Property developers will have to adapt their development plans to meet this increased demand” the Council said.  
“The numerous transactions of undeveloped land demonstrate that property developers are in the process of planning and developing new projects to meet the increased demand, which currently exceeds the supply for many property categories, including both offices and apartments,” explained Marinos Kineyirou, president of the Council.
Source: cyprus-mail.com