Press Release
The recent Reflect Festival brought forth crucial discussions on pivotal issues affecting Limassol, prominently featuring traffic congestion and housing shortages as central topics. Yannis Misirlis, President of the Pancyprian Association of Land and Building Development Entrepreneurs and President of Imperio, shared his insights during the event, emphasizing the urgent need for comprehensive planning to address these pressing concerns.
Mr. Misirlis underscored the significant impact of limited housing supply coupled with soaring demand on rental affordability in Limassol. He highlighted that rental prices have surged by up to 180% over the past decade due to this imbalance. Advocating for policy measures that facilitate the development of affordable housing projects, he pointed to the growing preference in the market for such initiatives, including green buildings that align with sustainability principles.
Addressing the broader economic implications, Mr. Misirlis also drew attention to the manpower shortage affecting various sectors beyond real estate. Delays in project completions, attributable to reduced labor availability, he warned, are jeopardizing Cyprus's competitiveness while exacerbating property affordability challenges.
Turning to the city's escalating traffic congestion, Mr. Misirlis stressed the multifaceted nature of the issue, cautioning against simplistic solutions. He referenced a previous study commissioned by the Limassol Chamber of Commerce and Industry, which highlighted the need for a cultural shift towards alternative transportation modes alongside infrastructure improvements. Enhancing public transport alone, he argued, would not suffice without fostering a community-wide commitment to embracing sustainable mobility practices.
In conclusion, Mr. Misirlis emphasized the importance of holistic urban planning that extends beyond the city center to encompass Limassol's expanding regions. Proposing that investments in community-centric solutions are pivotal, he advocated for strategies that cater to the needs of residents and visitors alike.
