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Limassol Leads The Charge In Cyprus’ Booming Real Estate Market

by THEFUTURE.TEAM

December 11, 2024

The Cypriot real estate market experienced significant growth in 2024, with Limassol firmly at the forefront. From suburban houses to city-centre apartments, shifting buyer preferences and rising investment interest are driving demand across the island.

Limassol: A Market Powerhouse

Limassol remains the undisputed leader, with property sales far exceeding those of other districts. From January to September 2024, the city recorded 237 house sales worth €165 million and 1,469 apartment sales valued at €820 million.

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Limassol City attracted the most apartment sales (557 units, €471,000 average), followed by upscale Germasogeia (247 units, €706,000 average) and Agios Athanasios (133 units, €342,000 average). The housing market also saw strong demand in Ypsonas, Cherkezoi, and Agios Tychonas, reflecting Limassol’s appeal among local and international buyers seeking luxury and investment opportunities.

Nicosia, Larnaca, and Paphos Follow the Trend

Nicosia, the island’s capital, saw strong demand for apartments, with 1,194 units sold for a total of €236.9 million. Key areas like Strovolos, Lakatamia, and Nicosia City led apartment sales, driven by professionals and investors seeking high-yield properties.

Larnaca has become a rising star, attracting buyers seeking affordable homes and apartments. The district recorded 191 house sales worth €64.35 million and 1,113 apartment sales totalling €218.8 million. Sales were concentrated in Larnaca City, Livadia, and Aradippou, where buyers are drawn by the promise of coastal living and competitive pricing.

Paphos continues to attract foreign buyers and lifestyle investors. In 2024, it recorded 243 house sales worth €149.6 million and 416 apartment sales totalling €138.4 million. The district’s coastal charm, scenic views, and investment potential make it a prime choice for second-home buyers and holiday rental investors.

Shifting Buyer Preferences

The 2024 market trends reveal a shift towards suburban living, with areas like Ypsonas (Limassol), Lakatamia (Nicosia), and Aradippou (Larnaca) gaining traction. The pandemic has influenced demand for larger, more comfortable living spaces.

Apartments remain a strong choice for professionals, students, and investors, particularly in Limassol, Nicosia, and Larnaca, where rental yields and urban convenience appeal to younger demographics. Investors are also targeting city-centre apartments as Cyprus maintains its status as a key market for international buyers.

What’s Next?

With Limassol leading the charge, the Cypriot property market is set for continued growth. Demand for suburban homes will likely persist, while city-centre apartments remain a lucrative investment. Limassol’s luxury market will continue to draw affluent buyers, and regions like Nicosia, Larnaca, and Paphos are set to benefit from rising demand.

Buyers prioritise lifestyle, space, and investment returns as the market evolves. Cyprus’ appeal as a residential and investment destination remains strong, with Limassol at its heart.

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Electric Vehicle Leaders Urge EU To Maintain 2035 Zero Emission Mandate

by THEFUTURE.TEAM

September 13, 2025

Industry Voices Emphasize the Importance of Commitment

Over 150 key figures from Europe’s electric car sector, including executives from Volvo Cars and Polestar, have signed a letter urging the European Union to adhere to its ambitious 2035 zero emission goal for cars and vans. These industry leaders warn that any deviation could hamper the progress of Europe’s burgeoning EV market, inadvertently strengthen global competitors, and weaken investor confidence.

Evolving Perspectives Within the Automotive Community

This call comes in the wake of a contrasting appeal issued at the end of August by heads of European automobile manufacturers’ and automotive suppliers’ associations. That letter, endorsed by the CEO of Mercedes-Benz, Ola Kaellenius, argued that a 100 percent emission reduction target may no longer be practical for cars by 2035.

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Discussion With EU Leadership on The Horizon

European Commission President Ursula von der Leyen is scheduled to meet with automotive industry leaders on September 12 to deliberate the future of the sector. Facing stiff challenges such as the rise of Chinese competition and the implications of US tariffs, the stakes for the EU’s policy decisions have never been higher.

Potential Risks of Eroding Ambitious Targets

Industry leaders like Michael Lohscheller, CEO of Polestar, caution that any weakening of the targets could undermine climate objectives and compromise Europe’s competitive edge in the global market. Michiel Langzaal, chief executive of EU charging provider Fastned, further highlighted that investments in charging infrastructure and software development are predicated on the certainty of these targets.

Regulatory Compliance And The Mercedes-Benz Exception

A report from transport research and campaign group T&E indicates that nearly all European carmakers, with the exception of Mercedes-Benz, are positioned to meet CO₂ regulation requirements for the 2025-2027 period. To avoid potential penalties, Mercedes must now explore cooperation with partners such as Volvo Cars and Polestar.

Conclusion

The industry’s unified stance underscores the critical balance between environmental aspirations and maintaining competitive advantage. With high-level discussions imminent, the EU’s forthcoming decisions will be pivotal in shaping not only the future of the continent’s automotive sector but also its global positioning in the race towards sustainable mobility.