Limassol, Cyprus' second largest city, continues to impress with its ability to combine centuries-old traditions with modern innovation. Located on the south coast, this vibrant city is emerging as a residential property hub, offering both cosy family retreats and luxury complexes for investors.
With a population of around 195,000 in the urban area, Limassol is known for its historic centre around the medieval castle and old harbour. The property market is thriving, with house prices ranging from €4,000 to €5,500 per square metre, making it one of the most expensive regions in Cyprus.
According to the Limassol Real Estate Market Overview 2024, house price growth in 2024 will be 9% year-on-year, reflecting high demand and limited supply, especially in the central and coastal areas.
In this report, we focus on major residential projects that are playing a prominent role in changing the face of the city and improving the quality of life for its residents. These projects are not just construction projects, but true architectural milestones that are changing not only the face of Limassol, but also the way of life of its residents. From the completed, to the under construction, to the planned major residential developments, each of them has a profound impact on the development of the city, improving its infrastructure, economy and comfort for all.
Why are large-scale projects so important?
Large-scale housing projects are more than just buildings. They are critical catalysts for change that have a significant impact on the development of entire neighbourhoods and the city as a whole. They become the foundation for infrastructure improvements, job creation and increased tax revenues that drive economic growth. These projects often provide integrated solutions, from housing to parks, commercial facilities and public spaces, making them not only comfortable but also diverse places to live.
Unlike smaller projects, large complexes allow the creation of complete ecosystems where residents can enjoy all the amenities, from sports and recreational areas to cultural facilities and shopping. In addition, today's large-scale projects often incorporate cutting-edge technology and sustainable solutions. This means that they not only improve the quality of life, but also make the city greener and the buildings more energy efficient. As a result, such projects shape the image of a city for many years to come, creating standards that set the tone for the development of the entire region and the excellent well-being of its inhabitants.
Major projects completed: Limassol's state-of-the-art developments set the standard
Limassol continues to amaze with its major projects that have a significant impact on the development of the urban landscape. The projects completed in recent years have not only added new residential areas to the city, but have also significantly improved the standard of living for its residents. Whatever you and I may think of the now closed 'Golden Passport' programme in Cyprus, it had a huge impact on the pace and style of construction, especially in Limassol in the 2010s and early 2020s. Projects from those years, such as One Limassol, Trilogy Limassol Seafront and Limassol Del Mar, continue to inspire with their scale and architectural design.
All property options in One Limassol
All properties in Trilogy Limassol Seafront project
All property options in the Limassol Del Mar project
During the same period, The Oval project was completed, a 16-storey business centre with a height of 80 metres, located just 100m from the sea. It became the tallest commercial building in Cyprus at the time of completion in 2017. Its oval shape, inspired by the rounded pebbles of the Limassol coastline, sets it apart from the cityscape and makes it a prominent landmark in the city. But let's get back to the residential projects.
Another landmark project is Limassol Marina, which was completed about 10 years ago and is located in one of the most prestigious areas of the city. The complex comprises 285 residences ranging from apartments to villas with private moorings for yachts up to 60 metres in length. Limassol Marina combines luxury accommodation with the comforts of city life and magnificent sea views. Interestingly, it is the first marina in Cyprus to be awarded the Blue Flag, underlining its environmental sustainability. The marina is expected to expand, so it is important to keep up to date with developments in the area.
All available property options at the Limassol Marina project
Continuing the tradition of impressive architectural achievements, the 27-storey Dream Tower skyscraper has been built in Limassol. This residential complex offers panoramic views of the Mediterranean and combines modern amenities with luxury apartments. Dream Tower features fitness centres, spa areas and other amenities to ensure a comfortable living environment. A special feature of the project is the 'Gardens in the Sky' - green oases on different levels of the building, creating a sense of tropical paradise in the middle of the city.
All available property options at Dream Tower
In addition to these projects, the relatively new Sunset Gardens in the western part of Limassol is the first gated residential development in Cyprus to be harmoniously integrated into a 10,000m2 park. The development consists of 20 low-rise buildings housing 315 apartments ranging from one, two and three bedroom apartments to magnificent four bedroom penthouses. Residents of Sunset Gardens can enjoy a variety of amenities including swimming pools, cafes, a business centre, sports courts, cycle paths and outdoor yoga areas. Sunset Stays was recently launched to allow guests to experience life in this innovative eco-community. According to the developer's CEO, the western side of the project is already completely sold out, while only a few units remain available on the eastern side.
All available property options in the Sunset Gardens development
Completing the list of outstanding projects in Limassol, The Signature Residences in the Germasoya area is a 15-storey premium skyscraper comprising 27 luxury apartments, including a penthouse with sky gardens, as well as office and commercial space. The project is inspired by the elegance of the Mediterranean style, with landscaping that includes olive groves reminiscent of Cyprus' ancient traditions. Residents will have access to modern amenities such as a spa centre, swimming pool, gym and 24-hour concierge service, providing 5-star hotel level comfort. Situated opposite the Blue Flag award winning Dasoudi Beach and Eucalyptus Park, the development offers panoramic views of the Mediterranean Sea.
View all available property options in The Signature Residences development
Leading Major Projects: Building Momentum and Innovation
From March 2025, Limassol will continue to see the construction of several major projects that will significantly change its architectural character and improve the quality of life for its residents.
One of the most anticipated is Yoo Limassol, which is already under construction and promises to be a real gem on the coast. Inspired by designer Philippe Starck, the concept promises a combination of luxury, innovation and unique style. YOO Limassol will have 84 apartments and 81 villas with private access to the beach.
For those looking for a lifestyle rather than just a place to live, this project will be a real find. What makes the project special is the attention to detail, from the unique design of the buildings to the high functionality of the interiors. The special feature of the project is the attention to detail, from the unique design of the buildings, reminiscent of sea waves, to the high functionality of the interiors. The project is scheduled for completion in 2027.
All available property options in the Yoo Limassol project
Equally ambitious is https://dom.com.cy/en/live/complexes/luxury-complex-limassol/limassol-greens/, being developed in the Fasouri area. It is one of the largest residential golf and spa resorts, comprising 495 villas and 233 apartments. In addition to the residential units, the project includes an 18-hole golf course, health and sports complexes, making it a unique place to live and relax. This project clearly demonstrates the idea of creating a balanced environment where elements of luxury, nature and urban infrastructure are combined. It will be a true oasis for those who appreciate comfort, nature and an active lifestyle. Today, the project is already moving towards the completion of the first phase of construction.
All available plots in the Limassol Greens project
Major projects in the pipeline: the future of the mini-city
In recent years, the architectural image of Limassol has changed significantly. While the city used to be dominated by high-rise buildings that symbolised its rapid growth and modernisation, the emphasis is now shifting towards low-rise complexes that blend in with the surrounding landscape and offer a more intimate atmosphere for residents.
An example of this approach is the Blue Coral Homes project, located in the heart of Parekklisia village in the Limassol district. This modern gated development comprises 45 exquisite maisonettes and 4 one-bedroom apartments. Each maisonette is a 2 or 3-bedroom semi-detached house built with high-quality materials and finishes. The accommodation has been designed with comfort and convenience in mind, with private parking, private courtyards and in some cases individual swimming pools. The landscaping includes a communal courtyard with play and recreation areas, making it particularly attractive to families.
All property options available in the Blue Coral Homes development
An interesting aspect of Limassol's current development is the drive to create affordable housing. According to the Cyprus Land Corporation Koag, a government policy, 600 new apartments will be built over the next six years for rent or purchase at below-market prices. The first phase of the project, comprising 138 units, will start in October-November this year in collaboration with the Limassol municipality. The rents are expected to be at least 30% below market rates, partially addressing the high cost of renting in the city.
Limassol continues to develop and change rapidly, becoming a true residential property centre in Cyprus. Major projects such as Yoo Limassol and Limassol Greens have already significantly improved the urban landscape and infrastructure of the city, taking the quality of life to a new level. Leading projects such as Dream Tower promise to become symbols of luxury and comfort, while future initiatives such as Limassol Greens and Blue Coral Homes will make Limassol one of the most attractive places to live and invest. These projects reflect Limassol's commitment to harmonious development, combining modern architectural solutions with respect for the natural environment and the needs of its residents. The city continues to evolve, offering a variety of housing options, from the relatively affordable maisonettes of Blue Coral Homes to the luxurious residences of Limassol Greens, catering to the needs of a diverse population.
Limassol's Issues and Challenges: Rising Prices and Housing Affordability
Limassol's rapid development brings new opportunities to the city, but also raises important questions. How to preserve its unique atmosphere without turning it into a city for investors only? How to make housing affordable for the local population without halting growth? The answers to these challenges will determine what Limassol will be in 10-20 years: a modern city for everyone, or an elite enclave on the Mediterranean coast.
The average cost of a square metre in the city already exceeds 4,000-5,500 thousand euros, putting property out of reach for a significant proportion of the local population aged 25-35. This is particularly noticeable in the context of rising rental prices, which continue to increase due to high demand from expats and investors.
The rapid development of super-luxury residential projects makes the city attractive to international buyers, but also exacerbates the problem of affordable housing. In response, the Cypriot authorities have announced the aforementioned low-cost housing projects, but they are not yet large enough to make a dramatic difference. If the trend continues, Limassol could face the risk of social stratification, with high housing prices pushing locals to the outskirts of the city. Housing affordability therefore remains an issue, but forthcoming initiatives could be a step towards a more balanced property market. Limassol is moving confidently into the future and remains one of the world's most attractive cities in which to live and invest.
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