Monagroulli Hills

Monagroulli Hills is a Mediterranean villa sub-division on the outskirts of Limassol, developed by Aristo Developers. The sub-division comprises 20 2- and 3-bedroom villas with private pools, set on plots ranging from 391 m² to 621 m². This is one of the few Aristo projects in the Limassol area – Cyprus's most vibrant and fastest-growing city.

The project is located in Monagroulli village, north-east of Limassol, with convenient access to the A1 motorway leading to the city centre and Paphos/Larnaca airports. This is a rapidly developing area thanks to its proximity to Limassol while retaining a tranquil countryside atmosphere.

Features of Monagroulli Hills

Each villa features a traditional Mediterranean design with red tile roofs, a covered front porch, and stone-paved terraces. Floor area ranges from 140 m² (2-bedroom layout) to 230 m² (3-bedroom layout). Private pool and large garden for each unit.

Energy efficiency rating of B+ under Cyprus EPC standards. High-end finishes, smart home systems, fully equipped kitchens, and quality sanitaryware. Construction status is predominantly off-plan.

Limassol countryside – the investment case

Limassol is Cyprus's second-largest city and is considered the island's economic and financial hub. In recent years, Limassol has attracted numerous international technology, finance, and shipping companies, driving city-centre property prices to high levels. The countryside area of Monagroulli maintains reasonable pricing compared to the city centre.

Limassol city centre is approximately 15 km away, equivalent to a 20-minute drive. Larnaca International Airport is 50 km away (45 minutes), and Paphos Airport is 70 km away (55 minutes). Limassol beach is 15 km away, with shopping amenities, international schools, and hospitals all easily accessible.

Aristo Developers – the developer

Aristo Developers is one of the largest private property developers in Cyprus, operating for over 40 years with more than 500 property projects on offer across Paphos, Limassol, and Nicosia. Aristo was the first developer in Cyprus to own and build golf resorts, educational institutions, shopping centres, and water parks.

In Limassol, Aristo has developed various projects including Bellair Residences, City Gate, Hillcrest Residences, and Monagroulli Hills – the only Mediterranean countryside design phase in Aristo's Limassol portfolio.

Cyprus Permanent Residency Programme

Monagroulli Hills qualifies for the Cyprus Permanent Residency programme under Regulation 6(2) with a minimum investment threshold of €300,000 excluding VAT. The 3-bedroom villa type at Monagroulli Hills starts from €501,000, exceeding the required threshold. A Cyprus PR application includes the main investor, spouse, and children under 25 years old if they are full-time students.

Requires a minimum annual income of €50,000 from sources outside Cyprus for the main investor, plus €15,000 for a spouse and €10,000 for each dependent child. Cyprus permanent residence is valid indefinitely with no renewal required, needing only a minimum entry into Cyprus once every 2 years. Processing time is 2-6 months according to the Civil Registry and Migration Department.

Tax Advantages and Yield

Purchasing Monagroulli Hills as a primary residence qualifies for a reduced VAT rate of 5% on the first 130 m², provided the total transaction value is under €475,000 and the built area is under 190 m². Purchasing to rent may be eligible for a 19% VAT refund. Aristo Developers provides rental management services – yield details subject to confirmation by Aristo for each specific unit.