Limassol: Cyprus’s Investment Capital

Stretching along a stunning 20-kilometer coastline, Limassol is Cyprus’s second-largest city and the preferred destination for investors, international migrants, and major tech companies. With a population of approximately 350,000 residents, the city offers a unique blend of vibrant business life, world-class education, and Mediterranean quality of life.

Premium Neighborhoods – Limassol City Center

Neapolis, Mesa Getonia, and Agios Nicolaos form the city’s traditional luxury districts. Within walking distance of the beaches and most employment hubs, these neighborhoods command the highest per-square-meter prices in Cyprus. Their proximity to entertainment and business centers makes them particularly sought-after among international tenants.

The Coastline and Tourist Area

The waterfront neighborhoods present a fascinating mix: older buildings constructed decades ago that require renovation work (yet still command relatively high prices), alongside gleaming skyscrapers built in recent years. These luxury high-rises offer stunning panoramic sea views with apartments reaching up to €20,000 per square meter.

Limassol’s Old Town

The old town forms the beating heart of Limassol. Here, among picturesque alleyways and bustling restaurants, past and present meet in perfect harmony. On weekends, the area transforms into a central entertainment hub, with bars, restaurants, and clubs drawing residents from across the city and surrounding areas. This district sits close to Limassol’s marina and the city’s green lung – the MOLOS park. Most real estate in this area targets the student population, though it also features older homes housing locals and foreign workers.

Above and Below the Highway

The city naturally divides between north and south, with the highway serving as a natural boundary between different residential areas. The south, essentially the city center, has traditionally been the more expensive area due to its proximity and accessibility to the sea. It’s characterized by denser construction and higher prices per meter.

The northern area of Limassol (above the highway) is more luxurious in the neighborhoods overlooking the sea, and mostly contains luxury villas. This is primarily because land there is cheaper, allowing for the construction of spacious villas in upscale neighborhoods like Agios Athanasios and Germasogeia. These areas attract families due to their proximity to the island’s leading private schools, such as the prestigious Foley’s School and Golden Oak, as well as the amazing sea views.

The New West

The western area of the city is an alternative zone – many of you may know it as “Zakaki.” This is an area mostly inhabited by residents with limited financial means, with few employment opportunities, and it’s about a 25-minute drive from the city center (not accounting for traffic). However, the area has undergone a genuine transformation led by the new casino project and MyMall shopping center, attracting significant infrastructure and construction investments primarily due to relatively cheap land prices. Currently, this is still a developing area, but it presents an opportunity for investors to benefit from relatively attractive prices before the expected rise in property values.

The Private School Zone in Polemidia

Limassol boasts a wide variety of international private schools, including Heritage, Grammar School, Pascal, and Silverline. These schools offer British curriculum and serve as magnets for international families. Some investors are purchasing residential real estate in these school areas, which remain relatively affordable since they don’t experience high demand at this stage.

Returns and Pricing

Studio apartments in the city center range from €180,000-220,000, one-bedroom apartments in the city center range from €190,000-250,000, while two-bedroom apartments can reach €400,000 in sought-after areas. Average returns range from 6% to 8%.

Looking Forward

With infrastructure development in the city’s west, expansion of the passenger port, and establishment of new entertainment and leisure centers, Limassol is set to continue its growth trajectory. The city attracts more and more technology, fintech, and shipping companies, bringing international workers and strengthening the local real estate market.

For investors and families seeking the perfect combination of quality of life, high-level education, and investment potential, Limassol offers a unique opportunity in the Eastern Mediterranean. Whether you’re looking for an apartment in the bustling city center, a home in the private school district, or an investment in the developing western areas, Limassol is a city that offers options for every taste and budget.

At Nexton, we choose the location of our projects very carefully – in central and sought-after areas of Limassol with strong rental demand. Our 12 years of specialization in the city have given us deep knowledge of every corner, every neighborhood, potential tenants, and market dynamics. This experience translates into real advantages for our clients. We prefer to invest in excellent locations rather than cheap alternatives, out of commitment to executing successful deals for our buyers – this is what matters most to us, and we prioritize this even over the profitability of our own projects.

To learn about exciting projects in each of the areas we’ve mentioned, please fill out the details on this page.