Agios Athanasios is one of Limassol's established residential areas for buyers comparing new apartments, under-construction properties and modern homes close to the city. Heaven Residences is a boutique six-residence development with two current 2-bedroom options: a second-floor apartment offered at €350,000 + VAT and a top-floor penthouse offered at €420,000 + VAT, both with estimated delivery in Q4 2027. Buyers can view the 2-bedroom apartment in Agios Athanasios, view the 2-bedroom penthouse in Agios Athanasios, or browse all apartments for sale in Agios Athanasios currently listed by NiSea Realty.
Key Takeaways
Heaven Residences is a boutique under-construction residential development in Agios Athanasios, Limassol. Below are the main points for buyers considering a new-build apartment in the area.
- Current Prices: €350,000 + applicable VAT for the 2-bedroom apartment; €420,000 + applicable VAT for the 2-bedroom penthouse
- Layouts: Both options have 2 bedrooms, 2 bathrooms and 79m² internal area. The apartment has 102m² total area, while the penthouse adds a 28m² private roof garden and 130.5m² total area
- Construction Status: Under construction, with estimated delivery in Q4 2027
- Boutique Development: Only 6 apartments in a low-density three-storey building
- Energy Efficiency: Energy Efficiency Rating A, with provisions for air-conditioning, underfloor heating and photovoltaic systems
- Practical Features: Covered parking, private storage, elevator access, high ceilings and open-plan living areas
- Location: Agios Athanasios, with convenient access to private schools, the highway, Limassol city centre and everyday amenities
- Buyer Profile: Suitable for owner-occupiers, families, professionals and buyers assessing long-term rental or resale potential
- VAT: The applicable VAT depends on the buyer and intended use. Eligible purchasers of a qualifying primary residence may apply for the reduced 5% VAT rate, subject to Cyprus tax rules
- Permanent Residence: A qualifying first-sale house or apartment of at least €300,000 + VAT can form part of a Regulation 6(2) application for eligible third-country nationals, subject to all programme requirements
Why New Apartments in Agios Athanasios Attract Buyers
Agios Athanasios combines an established residential environment with access to central Limassol, major schools and the motorway network. For buyers searching for new apartments in Agios Athanasios, smaller under-construction developments can be particularly attractive because they offer modern specifications and lower building density than many larger residential projects.
Heaven Residences follows that model: six apartments, contemporary architecture and an estimated Q4 2027 completion date. Buyers can currently compare a second-floor 2-bedroom apartment with a top-floor 2-bedroom penthouse featuring a private roof garden, allowing the same development to suit buyers prioritising either efficient everyday living or additional private outdoor space and elevated views.
Current 2-Bedroom Options at Heaven Residences
| Option | Price | Internal Area | Outdoor Space | Total Area |
|---|---|---|---|---|
| 2-Bedroom Apartment | €350,000 + VAT | 79m² | 18.5m² covered + 4.5m² uncovered veranda | 102m² |
| 2-Bedroom Penthouse | €420,000 + VAT | 79m² | 18.5m² covered + 5m² uncovered veranda + 28m² private roof garden | 130.5m² |
The apartment is the more compact entry point into the development, while the penthouse adds a private 28m² roof garden together with sea and city views. Both are under construction and currently show estimated delivery in Q4 2027.
Under-Construction vs. Completed Apartments: What Changes?
| Property Type | Main Advantage | Main Consideration | Best Suited To |
|---|---|---|---|
| Heaven Residences 2-Bedroom Apartment | New construction, boutique building and modern energy-efficient specifications | Buyer waits until estimated Q4 2027 delivery | Buyers prioritising a new home and longer-term ownership |
| Completed New-Build Apartment | Can normally be occupied or rented sooner | Pricing may already reflect completion-stage value | Buyers who need immediate use or rental income |
| Resale Apartment | Existing property can be physically inspected before purchase | Age, energy efficiency and future maintenance vary by building | Buyers prioritising immediate availability or a specific established building |
The key distinction: an under-construction apartment can offer access to a new property before completion, while a turnkey or resale unit offers immediate use. The better option depends on the buyer's timing, financing, intended use and risk tolerance.
The 2-Bedroom Apartment & Penthouse: Layout and Property Details
The second-floor apartment and top-floor penthouse share the same 79m² internal area and 2-bedroom, 2-bathroom format, with open-plan kitchen, dining and living spaces. The penthouse expands the outdoor living component with a private 28m² roof garden and sea and city views. Full details, photographs and plans can be viewed on the 2-bedroom apartment listing and the 2-bedroom penthouse listing.
Bedroom & Bathroom Layout
- Bedrooms: 2 well-proportioned bedrooms
- Master Bedroom: Includes an en-suite bathroom
- Bathrooms: 2 bathrooms in total
- Living Arrangement: Practical layout suited to couples, professionals, small families or long-term tenants
Living Spaces & Outdoor Area
- Internal Area: 79m²
- Covered Veranda: 18.5m²
- Uncovered Veranda: 4.5m² for the apartment; 5m² for the penthouse
- Private Roof Garden: 28m² for the penthouse
- Total Area: 102m² for the apartment; 130.5m² for the penthouse
- Living Area: Open-plan kitchen, dining and living space
- Parking: 1 dedicated covered parking space
- Storage: Private storage room
Energy-Efficient Features
- Energy Efficiency: Rating A
- Air-Conditioning: Provision for air-conditioning units
- Heating: Underfloor heating provision
- Photovoltaics: Photovoltaic system provision
- Building Access: Elevator access
- Design: High ceilings and modern architectural approach
Agios Athanasios, Limassol: Why Buyers Search Here
Agios Athanasios is a well-established Limassol residential area popular with buyers who want convenient access to the city without living directly in the busiest central neighbourhoods. The area combines residential streets with quick connections to schools, business districts, supermarkets, services and the highway.
Location Advantages for Residents & Investors
- Schools: Convenient access to Foley's School and The Grammar School
- Highway Access: Easy connection to Limassol's motorway network
- City Access: Minutes from central Limassol by car, depending on traffic and exact destination
- Daily Amenities: Supermarkets, cafés and other everyday services are available throughout the wider area
- Residential Character: Established neighbourhood with a mix of houses, apartments and newer residential developments
- Rental Audience: Location can appeal to professionals and families seeking long-term accommodation in eastern and central Limassol
Buyers who want to compare this development with other options can view current apartments for sale in Agios Athanasios, Limassol, including new-build, under-construction and resale listings when available.
Investment Potential of a New Apartment in Agios Athanasios
Investment performance should be assessed using the actual purchase price, applicable VAT, completion date, financing costs, service charges, achievable rent and future resale conditions. Rather than relying on a fixed yield or appreciation assumption, buyers should compare the apartment against current competing stock in Agios Athanasios at the time of purchase and again closer to completion.
Factors That Can Support Rental Demand
- 2-Bedroom Format: A common size for couples, professionals and small families
- Modern Construction: Newer specifications can be attractive to tenants comparing older and newer apartments
- Energy Efficiency: Rating A and modern energy provisions can improve the property's long-term usability
- Parking & Storage: Covered parking and private storage add practical value for long-term residents
- Location: Access to schools, the motorway, central Limassol and daily amenities supports a broad tenant profile
Costs to Include in an Investment Calculation
- Purchase Price: €350,000 + applicable VAT for the apartment; €420,000 + applicable VAT for the penthouse
- Financing: Mortgage availability, interest rate and buyer contribution vary by lender and applicant
- Common Expenses: Confirm the final building budget and service-charge structure before purchase
- Insurance: Obtain an individual quotation based on the completed property and intended use
- Management: Include property-management costs if the apartment will be rented and professionally managed
- Maintenance: Keep a reasonable allowance for repairs and replacement costs over the ownership period
Important: Cyprus does not impose the former national Immovable Property Tax. Buyers should still budget for any applicable local authority charges, common expenses, insurance and taxes arising from their specific ownership or rental position.
Under-Construction Apartment vs. Turnkey Property
| Metric | Under Construction | Turnkey / Completed | Buyer Consideration |
|---|---|---|---|
| Occupancy | After completion and handover | Potentially immediate | Turnkey suits buyers who need the property now |
| Property Age | Brand-new on completion | Varies by property | New construction may reduce near-term refurbishment needs |
| Specifications | Modern design and energy standards | Depends on building age and renovation history | Compare actual specifications rather than age alone |
| Income Timing | Rental income begins only after completion | Can begin sooner if ready and lettable | Important for income-focused investors |
| Purchase Decision | Based on plans, specifications, contract terms and developer delivery | Physical property can normally be inspected in finished condition | Legal and technical due diligence remains essential in both cases |
The practical conclusion: under-construction apartments can be attractive for buyers who value a new property and can wait for delivery. Turnkey properties are often more suitable when immediate occupation or rental income is the priority.
Cyprus Permanent Residence Under Regulation 6(2)
For eligible third-country nationals, Cyprus Regulation 6(2) provides an expedited permanent residence route where the applicant meets the programme's investment, income and other qualifying criteria.
- Property Threshold: A qualifying first-sale house or apartment purchased from a development company must have a value of at least €300,000 + VAT
- Buyer Eligibility: The programme is aimed at third-country nationals and is subject to the full criteria set by the Cyprus Migration Department
- Funds: The investment funds must satisfy the programme's source and transfer requirements
- Application: Property value alone does not guarantee approval; the applicant must meet all applicable legal, financial and quality criteria
- Professional Advice: Buyers considering residence through property investment should obtain current immigration and legal advice before relying on a property purchase for eligibility
Both current 2-bedroom options are priced above the programme's minimum property-value threshold, but eligibility depends on the transaction and the applicant meeting the official Regulation 6(2) requirements.
What Can Influence Capital Value Before and After Completion?
Buying before completion can expose a purchaser to changes in market value during the construction period, but appreciation is never guaranteed. For an under-construction apartment in Agios Athanasios, the factors most likely to influence future value include:
- Construction Progress: Progress toward completion can reduce development-stage uncertainty
- Comparable New-Build Supply: Asking and achieved prices of competing apartments in Agios Athanasios
- Final Build Quality: Delivery of the agreed specifications, finishes and common areas
- Local Demand: Buyer and tenant demand for modern 2-bedroom apartments in the area
- Interest Rates & Financing: Mortgage affordability can influence both buyer demand and resale liquidity
- Wider Limassol Market: New supply, employment, migration and broader economic conditions can affect pricing
For this reason, NiSea recommends assessing an under-construction purchase using current comparable properties and conservative assumptions rather than treating projected appreciation as guaranteed profit.
What's Included in the Apartment & Penthouse
Current Listed Features
- Bedrooms & Bathrooms: 2 bedrooms and 2 bathrooms, including an en-suite to the master bedroom
- Living Space: Open-plan kitchen, dining and living arrangement
- Outdoor Space: Both options include an 18.5m² covered veranda. The apartment has a 4.5m² uncovered veranda; the penthouse has a 5m² uncovered veranda plus a private 28m² roof garden
- Parking: Covered parking space
- Storage: Private storage room
- Cooling: Provision for air-conditioning units
- Heating: Underfloor heating provision
- Energy: Photovoltaic system provision and Energy Efficiency Rating A
- Access: Elevator and electric gate
- Design: High ceilings, fitted wardrobes and modern architectural design
Before Signing
- Specifications: Request the latest technical specification and finish schedule
- Payment Schedule: Confirm reservation, contract and construction-stage payments in writing
- Delivery: Review the contractual completion date and any provisions dealing with delay
- VAT: Confirm the applicable VAT treatment for the buyer's intended use
- Legal Review: Use an independent Cyprus lawyer to review the contract and property documentation before purchase
Frequently Asked Questions: New Apartments in Agios Athanasios
Q: Is Heaven Residences a completed or under-construction development?
A: It is currently listed as under construction, with estimated delivery in Q4 2027.
Q: How much are the current 2-bedroom options at Heaven Residences?
A: The second-floor apartment is currently offered at €350,000 + applicable VAT, while the top-floor penthouse is offered at €420,000 + applicable VAT. Pricing and availability can change, so buyers should check the live apartment page and live penthouse page for the latest information.
Q: What size are the apartment and penthouse?
A: Both have 79m² of internal area and an 18.5m² covered veranda. The apartment has a 4.5m² uncovered veranda and 102m² total area. The penthouse has a 5m² uncovered veranda, a private 28m² roof garden and 130.5m² total area.
Q: Is Agios Athanasios a good area for a new apartment in Limassol?
A: It is one of Limassol's established residential districts, with access to private schools, the motorway, city-centre employment areas and everyday amenities. Suitability depends on the buyer's preferred location, budget and intended use.
Q: What is the main difference between the apartment and the penthouse?
A: Both have the same 79m² internal area and 2-bedroom, 2-bathroom format. The penthouse is on the top floor and adds a private 28m² roof garden, a slightly larger uncovered veranda, and sea and city views.
Q: Are there other apartments for sale in Agios Athanasios?
A: Yes. NiSea maintains a dedicated page where buyers can compare apartments for sale in Agios Athanasios across different bedroom counts, price points and construction stages.
Q: Does 5% VAT automatically apply to these properties?
A: No. The reduced 5% VAT rate is linked to qualifying primary-residence use and statutory eligibility conditions. Buyers should confirm their individual VAT treatment before signing.
Q: Can this property be used for a Regulation 6(2) permanent residence application?
A: Its asking price is above the €300,000 + VAT minimum property-value threshold for a qualifying first-sale house or apartment, but Regulation 6(2) is available only to eligible third-country applicants who satisfy all programme requirements. The property purchase alone does not guarantee approval.
Q: Can I finance an under-construction apartment with a mortgage?
A: Financing depends on the lender, the buyer's financial profile, the development and the bank's lending criteria at the time of application. Buyers should obtain a current mortgage assessment rather than relying on a fixed loan-to-value or interest-rate assumption.
Q: Can I rent the property after completion?
A: Subject to the final contract, legal requirements and any applicable building rules, the completed apartment or penthouse may be suitable for long-term rental. Buyers should assess achievable rent using current comparable listings closer to completion.
Interested in a New Apartment or Penthouse in Agios Athanasios?
Heaven Residences offers a boutique under-construction option for buyers looking for a modern 2-bedroom apartment or penthouse in Agios Athanasios, Limassol. The development combines a low-density six-unit building, Energy Efficiency Rating A and an estimated Q4 2027 delivery.
- ✓ 2 bedrooms and 2 bathrooms
- ✓ 79m² internal area in both current 2-bedroom options
- ✓ 18.5m² covered veranda, with a 28m² private roof garden on the penthouse
- ✓ Covered parking and private storage
- ✓ Underfloor heating and photovoltaic provisions
- ✓ Boutique development of only 6 apartments
Next steps are simple:
- View the Current Listings for photographs, plans, prices and availability
- Compare the Area with other apartments currently for sale in Agios Athanasios
- Request the Latest Details including specifications, payment schedule and estimated completion
- Arrange a Consultation with NiSea Realty to discuss suitability, viewing options and the buying process
View the apartment: 2-bedroom under-construction apartment in Agios Athanasios, Limassol →
View the penthouse: 2-bedroom under-construction penthouse in Agios Athanasios, Limassol →
Compare more options: Apartments for sale in Agios Athanasios →
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Written by Marios Spyrou, Managing Director — Ni.Sea Realty Ltd | Licensed Real Estate Agency | R. N. 1378 | L.N. 690/E
