Limassol remains the key link in the entire Cypriot property market.
This was stated on Thursday the 10th of April by the consulting company Ask WiRE, which analysed the transactions carried out in 2024.
In Limassol, 3,164 residential properties were sold for a total of €1.38 billion. Interestingly, luxury properties worth more than €1 million accounted for 253 transactions or % of total sales. However, in monetary terms, the share of such contracts reached 32% or €441 million. This data shows the continued interest of investors in luxury housing, especially in the coastal area of Limassol.
Looking at the details:
- In the Germasoya area, 81 luxury properties in the range of one to five million euros were sold in 2024, totalling over €150 million.
- In Agios Tykhonas, there were 30 transactions between one and five million euros, totalling 60.7 million euros, and two transactions over 5 million euros, totalling 11.2 million euros.
- In the Mouttagiaka area, 20 luxury residential sales contracts were signed in the one to five million euro range, for a total of 43.2 million euros, and two contracts for more than 5 million euros (25.2 million euros in total).
- Other areas of the city accounted for a further 45 luxury property transactions totalling €86 million.
As for properties in the mid-price range (between €200,000 and €500,000), a total of 1,362 properties (43% of the total number of transactions) were sold in this category in 2024 for a total value of €537 million (39% of the total value of transactions). The areas with the highest number of transactions were Mesa Guitonha (134 for a total value of €49 million), Ipsonas and Cato Polemidia (together 300 transactions for a total value of €114 million).
Finally, properties priced up to €200,000 accounted for 25% of all transactions (791 sales), but only 12% of the total value (€165 million). This reflects the limited supply in the affordable housing segment. Meanwhile, 210 such properties were sold in areas such as Ipsonas and Kato Polemidia.
The Limassol property market thus shows a healthy distribution between the different segments.
Luxury properties remain a strong asset, especially in the coastal areas. The mid-price segment continues to grow in volume, while the suburban areas of Limassol are becoming growth points due to more affordable prices and improved infrastructure.
For developers, this signals a diversification of projects, from luxury towers by the sea to functional complexes in new urban areas. Investors should consider both stable premium locations and developing areas with high growth potential. Agents, on the other hand, can use data-driven analysis to better define strategies for different categories of clients.
With total market activity of €1.38 billion, Limassol is firmly established as the flagship property market in Cyprus. And in this growing but competitive landscape, access to quality analysis is becoming a key advantage for industry professionals.