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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 KENWcZsK17ZyCavzVo1JGQ2u/xzz6dt+TZ9F851B8WTw0d+7vuvKA8sSLj575tuN
 lSrpUgbu0UrjoFZ01In8fQ==

<SEC-DOCUMENT>0001140361-09-000954.txt : 20090109
<SEC-HEADER>0001140361-09-000954.hdr.sgml : 20090109
<ACCEPTANCE-DATETIME>20090109170754
ACCESSION NUMBER:		0001140361-09-000954
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090101
FILED AS OF DATE:		20090109
DATE AS OF CHANGE:		20090109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GUSTAVSON TAMARA HUGHES
		CENTRAL INDEX KEY:			0001322750

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08667
		FILM NUMBER:		09519459

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		818 244-8080

	MAIL ADDRESS:	
		STREET 1:		701 WESTERN AVENUE
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201-2349

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC STORAGE PROPERTIES LTD
		CENTRAL INDEX KEY:			0000202953
		STANDARD INDUSTRIAL CLASSIFICATION:	LESSORS OF REAL PROPERTY, NEC [6519]
		IRS NUMBER:				953196912
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		701 WESTERN AVE
		STREET 2:		SUITE 200
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201-2397
		BUSINESS PHONE:		(818) 244-8080

	MAIL ADDRESS:	
		STREET 1:		701 WESTERN AVE
		STREET 2:		SUITE 200
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-01-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000202953</issuerCik>
        <issuerName>PUBLIC STORAGE PROPERTIES LTD</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001322750</rptOwnerCik>
            <rptOwnerName>GUSTAVSON TAMARA HUGHES</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PUBLIC STORAGE</rptOwnerStreet1>
            <rptOwnerStreet2>701 WESTERN AVENUE</rptOwnerStreet2>
            <rptOwnerCity>GLENDALE</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Director and 10% Owner of GP</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Units of limited partnership interest (&quot;Units&quot;)</value>
            </securityTitle>
            <transactionDate>
                <value>2009-01-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>105</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>189</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Units sold to Public Storage, general partner of the Issuer, pursuant to Public Storage's exercise of an option granted by reporting person to acquire the Units at reporting person's cost.</footnote>
        <footnote id="F2">Includes 25 Units held by corporation owned by trustees for the benefit of reporting person's children and by other persons.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ David Goldberg, Attorney in Fact</signatureName>
        <signatureDate>2009-01-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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