Limassol Real Estate Market: Trends and Prospects

Limassol, the second largest city in Cyprus, has seen steady growth in the property sector, attracting the attention of investors from all over the world. Over the past five years, the volume of property transactions in the region has increased by an impressive 43%, indicating significant interest in this market.

In 2020, the transaction volume amounted to €1.1 billion, reaching €2.6 billion by the end of 2024. This increase of 7% compared to 2023 underlines the stability and attractiveness of Limassol for investment.

One of the key trends in the Limassol real estate market is the growth of investment property purchases. This is due to the fact that Cyprus offers attractive conditions for foreign investors, in particular, the possibility of obtaining a permanent residence permit (PR) when investing in real estate. The minimum threshold for such investments is from 300 to 400 thousand euros, which makes the market accessible to a wide range of buyers.

The most popular properties remain two-bedroom apartments. They are liquid assets, which makes them attractive for both resale and rent. The average rental price for such apartments is about 1900 euros per month. For comparison, in other popular cities of Cyprus, such as Paphos and Larnaca, the average rental price is about 1.1 thousand euros, which emphasizes the uniqueness of Limassol as a center of investment attractiveness.

The steady growth of Cyprus's GDP, which has averaged 2-3% per year in recent years, creates favorable conditions for the development of the real estate market. A 40% reduction in public debt between 2020 and 2023 also contributes to the improvement of the country's economic situation. This economic background attracts both local and foreign investors who want to invest their funds in reliable assets.

The Limassol property market continues to show positive dynamics, making it one of the most attractive regions for investment in Cyprus. Steady growth in transaction volumes, high liquidity of properties and favorable economic conditions create excellent prospects for the future. Investors considering the possibility of purchasing property in Cyprus can safely pay attention to Limassol, which offers not only favorable conditions, but also a high quality of life.