Limassol apartments are appreciating, not depreciating—here's why

Kato Polemidia was long regarded as a peripheral district, marked by industrial zones and military barracks. Yet over the past several years, the neighbourhood has transformed into a major construction site. The former British military settlement of Verengaria is being redeveloped as a university and innovation cluster.

Cyprus University of Technology is investing over €125 million in expansion. Simultaneously, a student residence hall with 500+ rooms is under construction at a cost of €56 million. In 2027, the Jewish Academy will open with 1,500 students. The development also includes an Olympic swimming pool, sports complex and park spanning 52,000 square metres.

Prices are rising because the district is transforming visibly. Limassol apartments appreciated by 20 per cent in 2024—demand from foreign companies and professionals remains robust. Financial centres, IT firms and gaming studios are all relocating to Cyprus.

For investors, the implication is clear: housing demand will continue to grow. Letting apartments to students and employees of new companies generates rental yields of 6–7 per cent annually.

Source: Cyprus Mail Property