Limassol Tram Project Could Boost Property Values by €1.5 Billion as Feasibility Study Advances
A preliminary study reveals that property values along the proposed Limassol tram route could increase by approximately €1.5 billion if the project proceeds. Limassol Mayor Yiannis Armeftis emphasized that the priority remains completing the ongoing feasibility study with nearby municipalities to assess the tram's viability and potential benefits. The study aims to evaluate if the tram can effectively serve residents, reduce traffic congestion, protect the environment, and enhance urban living spaces.
Two potential route options have been proposed, connecting key areas including the port, city center, and surrounding suburbs, with estimated construction costs between €25 million and €35 million per kilometer. Local authorities highlight that current bus ridership is low, despite subsidies of around €25 million annually, and plan for buses and trams to operate as complementary transit modes.
Meanwhile, Nicosia is also exploring transit improvements and potential rail links, awaiting transport ministry funding to update previous studies. Both cities are cautious about committing to tram construction until feasibility and funding issues are resolved, with officials advocating for a careful reassessment of urban mass transit options to better meet future demands.
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