Limassol leading in sales of expensive properties in Cyprus in the first half of 2024

Ask Wire has published a new report in which it has analysed the sales of expensive properties in Cyprus, highlighting the biggest deals concluded between January and June 2024.

It turns out that the most expensive property was sold in Limassol - a commercial building in the Potamos Germasogeia area for €28 million.

At the same time, Limassol led the way in terms of the number of contracts concluded for the purchase of expensive properties in the first half of the year. This Cypriot city accounted for 7 out of 10 transactions, with a total value of €116.5 million. In addition to the commercial building, these included:

1. an apartment in the Mouttagiaka area for €18.4 million
2. A commercial building in the Apostolos Andreas area for 17.65 million euros;
3. An office in the Mesa Getonia area for €16.4 million;
4. A restaurant in Pentakomo for €15 million;
5. A mixed-use building in the Agia Zoni area for €12.9 million;
6. A mixed-use building in the Tsiflikoudia area for €8.1 million.

In Nicosia, it sold a commercial building in the Agios Omologitis area for €9.7m and a shop in the Kokkinotrimithia area for €9.6m during the period, while in Larnaca it sold a plot of land in the Livadia area for €9m.

The company noted that from January to June 2024, about 50 properties worth 500 thousand euros or more were sold in Cyprus, for a total of 262.1 million euros. Meanwhile, 51.6 per cent of the value of these sales was attributed to the 10 most expensive properties sold in Limassol, followed by Paphos (18.6 per cent), Nicosia (15.6 per cent), Larnaca (10.9 per cent) and the free areas of Famagusta (5.4 per cent). In monetary terms, the ten most expensive properties were sold for €135.3 million in Limassol, €48.8 million in Paphos, €28.6

In addition to the data on the ten most expensive transactions of the first half of the year, Ask Wire has also published a report on luxury property sales for June 2024.

The most expensive property was sold for €9.7 million - a building with offices and shops in the Agios Omologetis area of Nicosia. Larnaca proved to be the leader in the number of luxury property transactions. The city recorded 5 sales and purchases in June. Another 3 expensive properties were realised in Limassol and two in Nicosia.

The full list of the ten most expensive properties sold in June 2024 is as follows:

1. A building with offices and shops in the Agios Omologetis area of Nicosia for €9.7 million;
2. A plot of land in the Livadia area of Larnaca for €9 million;
3. An industrial building in the Idali area of Nicosia for €5.5 million;
4. A plot of land in the Livadia area of Larnaca for €3.7 million;
5. An apartment in the Agios Tychonas area of Limassol for €3.6 million;
6. A house in the village of Pano Platres in Troodos for €2.6 million;
7. An apartment in the Neapolis area of Limassol for €2.55 million;
8. A mixed-use building in the Oroklini area of Larnaca;
9. A house in the Aradippou area of Larnaca for €1.8 million;
10. a house in the Agios Nikolaos area of Larnaca for €1.5 million.