Ask Wire has conducted a new study in which it analyzed the sales of expensive real estate in Cyprus and highlighted the largest housing transactions in 2023.
As it turned out, the most expensive property last year was sold in Limassol - a plot worth 22.1 million euros.
Moreover, this city of Cyprus turned out to be the leader in 2023 in terms of the number of concluded contracts for the sale and purchase of expensive real estate. Limassol accounted for 9 out of 10 transactions, the total value of which amounted to 111.2 million euros. Among them: are commercial buildings, fields, and plots of land. Another expensive object was realized in the free areas of Famagusta - a field for 9.1 million euros.
The company noted that for the year 2023, Cyprus sold about 50 objects, costing from 500 thousand euros for a total amount of 285.8 million euros. 42% of the value of these sales were the 10 most expensive properties sold in Limassol, followed by the free areas of Famagusta (16.2% or 46.4 million euros). Next are Larnaca and Paphos with the top 10 most expensive sales in 2023 at €42.6 million (14.9%) and €41.1 million (14.4%) respectively. The ten most expensive properties sold last year in the province of Nicosia have a lower value (€35.5 million or 12.5%).
At the same time, in December 2023, the most expensive property in Cyprus was also sold in Limassol - a plot of land worth €3 million.
In this city of Cyprus in the last month of the year sold four fields for 2.87 million euros, 2.86 million euros, 1.4 million euros and 1.4 million euros, as well as an apartment for 2.3 million euros and a plot of land for 2, 3 million euros. Two more expensive objects were realized in Larnaca - houses for 2 million euros and 1.31 million euros. Finally, in Paphos in December 2023, a mixed-use building was sold for €1.4 million.