Newsroom
According to Kathimerini's Paris Demetriades, Limassol has seen a dramatic surge in property prices over the past five years, with rents and home prices doubling—and in some cases, tripling. While this has significantly benefited property owners, it has also created serious challenges for many residents.
The rapid increase in housing costs has not been matched by a rise in wages, leaving many locals struggling to keep up. This disparity has raised concerns that Limassol may become affordable only to wealthier individuals or those employed in high-paying sectors, potentially pushing out long-time residents.
Experts and residents alike are questioning the future of the city’s social fabric. Will Limassol turn into an exclusive enclave for the wealthy? Could the introduction of condominiums, a common solution in other major cities, offer some relief?
The impact on young people is particularly troubling. As one of the most financially vulnerable groups, many young residents face limited housing options and mounting economic pressure. There is also growing concern about the potential rise in homelessness and social inequality if affordable housing solutions are not introduced soon.
Limassol’s transformation highlights the urgent need for balanced development to ensure the city remains accessible and inclusive for all its residents.
You can view a video documentary in Greek on Limassol's skyrocketing prices below:
