87 buildings (11 floors andabove) will be built in Cyprus. As of September 1, 2020, 85 permits for theconstruction of high-rise buildings were issued, the interest of developers inthe construction of high-rise buildings is easily explained, it is unprofitableto build luxury villas on large plots of land within the city limits, sincehigh-rise buildings with 50 more expensive apartments can be built in the sameplaces, million euros each. Skyscrapers are being erected with the expectationof investors wishing to obtain "golden passports".
11-15 floors: 24 in Limassol, 13in Larnaca, 6 in Nicosia and 4 in Paphos
16-20 floors: 14 in Limassol, 3in Paphos and 2 in Larnaca
21-25 floors: 5 in Limassol, 1 inLarnaca and 1 in Paphos
26 floors and above: 11 inLimassol and 1 in Larnaca
“It is significant that Larnacais among the Cypriot cities that are developing at a record pace, although untilrecently it was considered a“poor relative, ”says Phileleftheros. - Currently -at least in the pre-coronavirus period - it has become a magnet for largeinvestors from Russia, Lebanon and Israel.