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Mediterranean Magnet

Mediterranean Magnet

14.01.20

A trailblazing collection of brand-new luxury homes is garnering investor interest on the sun-kissed island of Cyprus. Property developers, Leptos Estates, flew Harry Advic over for an exclusive tour

Cyprus seems to be reaping the rewards at present in the light of current political uncertainty surrounding Brexit. The country’s well-scoped Citizenship Schemes are spawning a marked rise in both UK investor and expat-led applications, offering a ‘lifeline’ to Europe. For a minimum outlay of €2 million, non-EU citizens can qualify for Cyprus citizenship, allowing them to travel, work and live freely within the EU and Schengen zone.

The appeal is understandable. Cyprus’s hospitable culture and sun-soaked Mediterranean climate have long held sway with UK buyers, not to mention the predominantly English-speaking population, excellent airlift and transport links and a coast meets countryside lifestyle offering.

Drive through downtown Limassol, the island’s international business hub and the island’s second largest city, and a fresh dynamism starts to unfold; a regeneration in full swing embracing high end real estate, luxury marina Port Limassol, swanky skyline offices and designer retail outlets, all integral components to this upscale renaissance.

“Limassol has changed dramatically in the past few years, and property prices have risen around 14% in the 12-15 months due to unprecedented demand,” explains property consultant, Derek Birdsall. “We need e­xpansion. International investors want it, and locals now realise the ­benefits. ­Cyprus feels confident, it’s evolved. It offers the whole package to investors looking for a quality lifestyle.”

One landmark waterfront development sparking investor interest is Blu Marine www.limassolbluemarine.com. Marketed by Leptos Estates and designed by Benoy Architects and BuroHappold Engineering, the stylish 247- apartment community located just 300 metres from Limassol Marina, will be set across three striking towers of 33 floors, 29 floors and 5 floors, respectively. Due to complete in 2022, property prices start from €615,000.

Comments Head of Marketing for Leptos Estates Sanjay Sachdev: “The development will feature extraordinary views of the Mediterranean, 24-hour concierge and luxury amenities including a state-of-the-art Health Spa and Gym. Adjacent to new pedestrian walkways and cycling routes, namely Aktaia Odos; Downtown Limassol will be directly connected to the Marina and Dubai World Cruise terminal, as well as the new casino and golf resorts.

“Cyprus’s primary residential tourism drivers are the Dubai Ports Cruise Hub, the arrival of Europe’s largest Casino ‘City of Dreams’ and the Limassol Greens Golf Course. Combined they’re the biggest ever infrastructure investment on the island, creating the region’s most exciting and modern playground.”

Pantelis Leptos, Deputy President of Leptos Group of Companies, adds: “It’s in Leptos Group’s DNA to invest in prime land and create extraordinary destinations with a global appeal. Limassol Blu Marine is our flagship development, the epitome of world class. There’s quality, 5* facilities and services, on the sea and by the marina, at the centre of everything. Limassol is an exciting investment location and destined to become Europe's new Riviera.”

At A Glance – Cyprus Citizenship by Investment Scheme  

  • Invest €2 million with the option to resell 1.5 million after 5 years
  • Straightforward fast-track procedure of approximately 6 months
  • Travel visa-free with EU citizen rights to over 157 countries
  • Citizenship is valid for life with no need to renew
  • No minimum stay before or after approval
  • Ready-to-move into freehold properties
  • Free movement of capital, services and goods
  • Zero inheritance, wealth, gift and immovable property tax

Permanent Residency Scheme

  • Invest just €300,000 in a new property, from a licensed development company
  • Permanent Residence for entire family
  • Fast-track procedure of 2 months
  • Valid for life with no need to renew
  • No minimum stay requirement
  • Visa-free entry to Cyprus
  • Ready-to-move-in freehold property with a clear title deed

Abode Affiliates

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