The most expensive house in Cyprus

Published on 19 May 2021, 14:48

The most expensive house in Cyprus

€30.000.000 was the asking price for Santa Barbara Residence

For over a decade the Santa Barbara Residence held the title of ‘most expensive house for sale in Cyprus’. The property was finally sold but some sources say that it may have gone for less that its original 30 million euro asking price.

Cyprus is a beautiful place known for its gorgeous beaches and pink sunsets. Thousands flock to the Mediterranean island every year to enjoy endless sunny days on one of its world class beaches. Some go so far as to make it their home and there is no shortage of beautiful houses for sale in Cyprus. From small, cosy studios to multi-million euro mansions by the seaside, Cyprus has it all for those willing and able to look and this is especially true for the city of Limassol which is where many of the most luxurious and most expensive properties on the island are located. Limassol is a rapidly developing city with many enterprising developers having their eyes set on the seaside city’s coastline.

As arguably the most developed city in Cyprus, rivalling even the capital, it is no surprise that Limassol is where the single most expensive house for sale in Cyprus is located. There are countless multi-million euro houses and apartments for sale in the city and in Cyprus as a whole but none come close to the Santa Barbara Residence, a super luxurious seafront mansion located on the outskirts of Santa Barbara-Limassol. Priced at an unprecedented € 30.000.000, the house costs more than 20 times the price of other pieces of luxury real estate across the island.

Santa Barbara Residence

Nestled among similarly beautiful but, perhaps, slightly less luxurious properties, the Santa Barbara Residence is merely a stone’s throw away from the Limassol coastline and it is a sight to behold. The Santa Barbara Residence represents the very best that modern architecture has to offer with its bold, striking shape. The house was built using unique, state of the art materials which give the Limassol villa a sleek, modern look and serves to show off the latest the architecture industry has to offer. Real estate developers are constantly striving to see just how far they can take the concept of opulence and the Santa Barbara residence is currently the peak of opulence in Cyprus.

Built in 2013, the house covers 3311 square meters and is set on a 2025 square meter plot. The property guarantees that the owner will never face a shortage of space no matter how large their family or staff is with its 7 bedrooms, 9 bathrooms and 2 garages. The villa is right by the sea and offers a gorgeous view of the Limassol coast which can be enjoyed from any of the house’s gorgeous floor to ceiling windows and its massive, spacious balconies and large outdoor pool. The most expensive house for sale in Limassol is the absolute pinnacle of style, comfort and luxury in Cyprus and its price has been described by some sources as ‘record-breaking’.

The villa is divided into five levels, each with a different function. The first floor is where the staff quarters are located and, just like the rest of the house, they are incomparably luxurious. The second level, named the Poseidon level, is where many of the house’s leisure facilities are located including the indoor swimming pool, the hydro massage, an aquarium, bar, changing rooms, steam room, Finnish sauna, snow cabin and much more. The second floor contains everything one could possibly need to enjoy a leisurely afternoon or evening in Limassol all within the confines of one incredible home. The third level, named after the god Apollo, contains three double bedrooms with private en-suite bathrooms, a home cinema and dancing area along with a winter garden and an interior reception. The fourth level, the Hermes level, features two verandas which measure 555 and 212 square metres respectively along with a dining area, a kitchen, family sitting area and an office. Finally the final level, the ‘Zeus level’, features two more verandas and the master bedroom.

Sold for an unknown amount

The sale was first announced in 2011 and soon after that Nigel Howarth published an article talking about the most expensive house on the island on his website Cyprus Property Buyers. For more than 9 years the asking price for the property was 30 million euros.

After a decade on the market, the Santa Barbara Residence wassold for an unknown amount, earning it the title of ‘most expensive property to be sold in Cyprus’. It is not known how much the house sold for but some sources say that it may have gone for less that its original 30 million euro asking price and the house is now owned by Exness, a global multi asset broker who intend to use it as their executive offices. The new owners now have in their possession the most lavish piece of real estate in Limassol after a decade of it being on the market without a buyer. For many years the Santa Barbara Residence held the title of ‘most expensive residence for sale in Cyprus’ and was a symbol of great ambition on the part of the developers behind the construction of the property.

The most expensive piece of residential real estate in Cyprus is located in an area called Agios Tychonas to the east of Limassol. Agios Tychonas is located right by the coast and is home to a number of beautiful archaeological sites as well as various other tourist attractions. Much of Agios Tychonas is geared toward luxury living and thanks to the village’s location by the seafront it is a very popular destination among those looking to buy luxury property in Limassol and the surrounding areas. It comes as no surprise that developers chose Agios Tychonas as the place to build the most expensive residential property in Cyprus and it remains to be seen if Agios Tychonas will play host to any other highly ambitious residential projects in the future.

Investing In Real Estate In Cyprus

Cyprus is an incredibly popular destination among those looking to invest in luxury real estate. Thanks to the very low corporate tax rates in Cyprus, a lot of investors view it as an excellent place to buy or build property for any of a wide range of purposes. Many would agree that purchasing the most luxurious piece of real estate on the island is the perfect first step for a wealthy investor looking to get their hands on a piece of the most beautiful island in the Mediterranean. The buyers of the Santa Barbara Residence have just bought themselves the most expensive piece of real estate in Cyprus