Key pillar of island’s economy
An interview with Polys Polydorou, Regional Manager, for Limassol and Paphos, Altia
Can you provide an overview of the real estate market in Paphos and Limassol? How has it evolved over the past few years?
The Cyprus real estate and construction sector constitutes a key pillar of the island’s economy. The last decade was largely driven by The Cyprus Investment Programme, which boosted the real estate sector, especially in the coastal city of Limassol.
Today, Limassol is home to super-luxury tower apartments and offices, attracting high-net-worth individuals. The completion of Cyprus’ investment programme finds Limassol real estate demand robust for both urban commercial and residential properties.
This robust real estate demand was also partially supported by the initiation of the Cyprus headquartering programme. As such, a significant number of foreign IT companies setting up their headquarters on the island gave rise to great demand for commercial premises and residential properties to accommodate their relocated employees.
The nearby cities of Paphos and Limassol have complemented each other in the Cyprus real estate market. While Limassol is widely regarded as Cyprus’ business centre, Paphos is considered a holiday and residential destination. The demand for Paphos real estate is mainly attributed to all types of residences, from urban to coastal, primarily driven by foreign investors. Notably, however, the high demand for commercial and residential properties in neighbouring Limassol has boosted Paphos’ real-estate market, with foreign businesses looking beyond the confines of Limassol to establish their headquarters in Paphos during the last couple of years.
How do you ensure that your team of real-estate representatives succeed and meet the diverse needs of clients in this competitive market?
Altia owes its success to its passionate people and the continued teamwork that draws on the skills of 70 professionals in all major cities. Our sales team is dedicated to a high standard of service, integrity and transparency to satisfy diverse customer needs. We also heavily invest in fostering business relationships and enhancing our strong partnerships with all real-estate professionals.
How do you maintain strong relationships with clients and ensure their satisfaction throughout the selling process?
The Altia team ensures an excellent selling process in numerous ways. Firstly, we respond swiftly to any business inquiries. We also provide accurate information about properties. Finally, we physically meet our clients and share supportive documentation with them.
We aim to add value and offer support throughout the Altia sales experience. The team’s proficiency guarantees that clients always receive personalised solutions, with an emphasis on bespoke assistance and efficient collaboration.
What are the emerging demand trends or opportunities in the real-estate market in Paphos and Limassol that investors should be aware of?
The emerging demand trends for Limassol’s real-estate market include urban residential and commercial properties. Paphos, on the other hand, has witnessed increased demand for urban residential and coastal properties, followed by commercial properties.
Altia stands out for its impressive property portfolio, meeting diverse buyer preferences and investment goals. A comprehensive selection of properties offers something for everyone, whether clients seek a cosy apartment, an investment opportunity, a commercial space for their business, or a second home by our island’s beautiful beaches.
Enabling clients to make informed decisions based on their specific preferences and goals, Altia ensures a satisfying and rewarding real-estate experience.
Find your ideal residential or commercial property in Cyprus today on altia.com.cy. Alternatively, reach out to the Altia experts on 77 77 59 00 or send your query to welcome@altia.com.cy