Cost of Living for Families in Limassol: What You Need to Know

As one of the most sought-after locations in Cyprus, Limassol offers a lifestyle that’s perfect for families, blending vibrant city life with a Mediterranean climate and excellent amenities.

Moving to Limassol does come with costs, however, so it’s essential for families to know what to expect.

In this article, we’ll cover the typical expenses in Limassol, from housing and utilities to schooling and dining and also discuss how SQONE developments stand out in the market for apartments for sale in Limassol.

1. Housing Costs: Renting vs. Buying Apartments in Limassol

Housing is often the largest expense for families in Limassol. For those renting, prices for a two-bedroom apartment in Limassol’s central areas, like Agios Nicolaos or Neapolis, range from €1,500 to €2,200 per month.

Purchasing a property offers families more stability and an opportunity for capital appreciation, especially as Limassol’s real estate market continues to grow.

Families also need to consider what areas suit them the best and we discussed this in depth in this article, Top 5 family-friendly neighbourhoods in Limassol.

Cost Comparison:

SQONE offers competitive options for families looking to buy, with starting prices for apartments in popular areas of Limassol, such as:

• Parkview Residences from €163,000
• STAYTWO Residences from €288,000

SQONE Advantage: Our two-bedroom apartments start at 65 sqm, compared to Limassol’s average of 85 sqm. This approach lowers initial purchase costs while maintaining high rental yield potential, allowing investors and homeowners to maximize their returns.

2. Monthly Utilities and Living Expenses

For a typical family of four, monthly utility bills, including electricity, water, and waste management, average between €120 and €150. Internet and telecommunications cost about €40 monthly, with Cyprus offering some of the most affordable data plans in the EU.

Energy Efficiency with SQONE: Our properties are designed to reduce energy consumption. Features like premium insulation and efficient climate control lower utility bills, helping families manage costs effectively throughout the year.

3. Education Costs and Schooling Options

For families considering private education, Limassol offers some of the best private schools in Cyprus. Annual tuition for these institutions varies widely, generally between €5,000 and €10,000, depending on the school.

Many private schools in Limassol offer English-language programs with internationally recognized curricula, making them ideal for expat families.

To explore top educational options, see our full guide on Top 5 Private Schools in Limassol, where we outline each school’s strengths, curriculum, and facilities.

4. Grocery and Dining Costs

For groceries, families typically spend between €400 and €600 per month, depending on dietary preferences and shopping habits. Limassol offers everything from local produce markets to premium grocery stores. Dining out can also be affordable, with meals at mid-range restaurants costing about €15–€20 per person, and family dining available across diverse cuisines.

5. Transportation Costs

Many families in Limassol prefer to own a car, as public transport options are limited. Fuel prices average around €1.40 per liter, and the cost of car ownership is comparable to other European countries. A public transport pass costs about €40 per month for an adult, though usage tends to be low among families due to limited routes.

Current Market Trends in Limassol Real Estate for 2024

Limassol’s real estate market continues to show strong growth in 2024, driven by a combination of local demand, foreign investment, and limited available land in prime areas.

According to recent data, property prices in Limassol have increased by approximately 8% year-on-year, with high demand in areas like Agios Athanasios and Germasogeia.

This demand is fueled by the city’s status as a business hub and its appeal as a lifestyle destination, attracting both residents and investors.

The rental market is equally dynamic, with rental yields averaging around 6-8% in well-located areas. Limassol’s status as a growing tech and finance center has increased interest from expatriates, further bolstering the rental market.

This trend makes Limassol an attractive option for investors looking for stable, high-performing assets.

For families considering property ownership, now is an opportune time, as Limassol’s steady capital appreciation and high rental returns make it one of Cyprus’s most promising property markets in 2024.

Investing in Limassol Property with SQONE: The Smart Choice

Limassol’s property market is thriving, presenting excellent investment opportunities, especially for those interested in high-demand apartments for sale in Limassol.

SQONE’s properties cater to both families and investors, focusing on prime locations that balance lifestyle benefits with strong potential returns.

Here’s why SQONE stands out:

• Prime Locations: Our properties are strategically located in top neighborhoods, including Agios Athanasios, Neapolis, and Germasogeia, ensuring convenience and long-term value.
• Thoughtful Design for Lower Costs and Higher Yields: SQONE’s properties are optimized for efficient use of space, lowering initial costs and increasing rental returns.
• Hassle-Free Property Management with Moving Doors: Through our partnership with Moving Doors, we offer a complete solution, from property purchase to tenant management, with a guaranteed 7% rental yield. This full-service model lets investors enjoy a worry-free experience.

SQONE and Moving Doors: Simplifying Property Ownership

Our collaboration with Moving Doors ensures that property investment is streamlined and stress-free.

Moving Doors provides end-to-end management, covering everything from tenant placement to maintenance, so investors and families can enjoy their property without daily concerns.

This partnership is ideal for investors seeking reliable returns or families looking for a stable, high-quality home in Limassol.

Why Limassol? A Growing Market with Family Appeal

Limassol offers an unparalleled quality of life and a property market poised for long-term growth.

SQONE’s competitive pricing and thoughtfully designed apartments for sale in Limassol cater to families and investors alike, providing accessible home ownership, strong rental yields, and attractive returns.

To explore our properties or learn more, visit squareone.com.cy.

Article by: Angelo Coralini - Marketing Manager