TOPCY 48 – Agios Athanasios, Limassol

TOPCY 48 is a pair of high-end detached villas developed by Topcy Construction & Development in Agios Athanasios – a prestigious hillside area north of Limassol, one of the most sought-after property locations in Cyprus and a favourite among foreign investors.

The two villas, Villa A and Villa B, feature curvilinear/parametric architecture that stands out from the typical modern boxy style in Cyprus, positioning TOPCY 48 in the ultra-luxury segment of the Topcy portfolio.

TOPCY 48 Features

Both villas have 3 floors (basement + ground floor + first floor) plus a roof garden, featuring a private infinity pool and outdoor parking for 2 cars.

Villa A:

• Basement: 55 m² interior + 24 m² covered veranda + 4 m² uncovered
• Ground floor: 84 m² interior + 16 m² covered veranda + 8 m² entrance corridor + 40 m² uncovered parking
• First floor: 90 m² interior + 10 m² covered veranda

Villa B:

• Basement: 66 m² interior + 20 m² covered veranda + 6 m² uncovered
• Ground floor: 89 m² interior + 11 m² covered veranda + 33 m² uncovered parking
• First floor: 86 m² interior

Total interior floor area: Villa A 229 m², Villa B 241 m². Both feature a roof garden that can be used as a viewing terrace.

Architectural features: wavy facade with curved columns, floor-to-ceiling glass to optimise mountain and distant sea views, balconies with clear glass railings, and an infinity-edge pool overlooking the garden.

Agios Athanasios – the investment case

Agios Athanasios is a hillside area north of Limassol, known for its high-end villas, views overlooking the city and the sea, low building density, and fresh air. It is a preferred location for HNWI from Russia, the Middle East, and Asia working or doing business in Limassol.

Limassol is the largest commercial and tourist city in Cyprus, serving as a hub for financial services, shipping, and information technology. Larnaca Airport is approximately 60 km from the centre of Limassol – a 45-minute drive via the A1 motorway, while Paphos Airport is about 65 km to the west.

Topcy has numerous projects in Agios Athanasios (TOPCY 47, 55, 57, 59, 62), demonstrating the developer's long-term commitment to this area.

Topcy Construction & Development – the developer

Topcy Construction & Development Ltd was established in 2016 in Nicosia and has developed over 40 real estate projects with more than 200 units across three major cities in Cyprus. Within the portfolio, Limassol is a key growth market with over 20 projects, particularly concentrated in the Agios Athanasios (ultra-luxury cluster) and Zakaki (investment cluster) areas.

Cyprus Permanent Residence Programme

TOPCY 48, with an expected price well above the €300,000 threshold, fully meets the investment requirements for the Cyprus Permanent Residency programme under Regulation 6(2). Buyers, along with their spouse and children under 18 (or students under 25), are granted permanent residence within 2-3 months via the fast-track procedure. Permanent residence is valid for life, requires no renewal, and only necessitates visiting Cyprus at least once every 2 years.

Tax Advantages and Yield

A reduced VAT rate of 5% (instead of the default 19%) applies to the first 200 m² when purchased as a primary residence. In cases where the property is purchased for rental, the 19% VAT may be refunded according to regulations.

Note: Cyprus is expected to join the Schengen Area in 2026 – an event that will significantly increase property values and freedom of movement for holders of Cyprus permanent residence. The Agios Athanasios area has a high price floor and stable transaction volume due to its prime location and low density, making it suitable for families who prioritise living space and long-term asset value preservation.