Investors in Limassol pins hopes on future developments
The Cyprus Ministry of Agriculture plans to build a floating desalination plant off the Germasogia coast at Limassol following a desalination plant which is under construction in the Kouklia area of Paphos.
According to the Cyprus Mail, Limassol, which is on the south coast of Cyprus, for its drinking water last summer was totally dependent on Greece. The desalination plant will be constructed using the infrastructure put in place to receive the water from Greece. The plant will be effective from next June and will produce between 20,000m3 and 50,000m3 of water a day for the following five years.
Martin cooper, a British property investor has bought a property in Limassol late last year said that he purchased there because of the news that the government plans to use it as a base for oil workers. Speaking to the Sunday Mail, he said that the plans will trigger a surge in the amount of demand for temporary lodgings in the region as there would be lots of industry people looking for accommodation. As a result, rental investors would be well-placed to collect significant rental returns from the visiting workers.
According to a recent report in the Mirror, the Cypriot housing market has seen considerable growth in recent times, with values rising by about 80 per cent in the last few years.
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