Ask Wire has published a new report analysing the sales of expensive properties in Cyprus and highlighting the largest deals concluded in February 2025.
As it turned out, the most expensive property was sold in the Limassol area - a plot of land in the village of Cerkezoy worth €9.4 million.
At the same time, Limassol was the leader in the number of contracts concluded for the purchase of expensive properties in the second month of the new year. This Cypriot city accounted for 8 out of 10 transactions, with a total value of €26.55 million. In addition to the land, these included
- A block of flats in the Germasoya area for €3.7 million;
- A plot of land in the Agios Athanasios area for €2.55 million;
- a plot of land in the Agios Athanasios area for €2.5 million;
- A house in the Germasoya area for €2.3 million;
- A plot in the Kato Polemidia area for €2.3 million;
- A plot of land in the Agios Athanasios area for €2.1 million;
- A house in the Germasoia area for €1.7 million.
Rounding out the February list were two expensive properties sold in Paphos: a mixed-use building in the Kato Paphos area for €7.6 million and a villa in the Kouklia area for €2.6 million.
The company noted that in February 2025, around 50 properties valued at €500,000 and above were sold in Cyprus for a total of €64.8 million. Meanwhile, the ten most expensive properties sold in Limassol accounted for 45% of the value of these sales, followed by Paphos (27.7%), Nicosia (12%) and Larnaca (10.8%) and the free areas of Famagusta (4.5%). In monetary terms, the ten most expensive properties were sold for €29.2 million in Limassol, €18 million in Paphos, €7 million in Larnaca, €7.8 million in Nicosia and €2.9 million in the free areas of Famagusta.
Commenting on the latest property market data, Ask Wire CEO Pavlos Loizou noted the significant recovery of the high-end property sector in February.
After a slow start in January, the luxury property market regained its momentum in February and recorded strong growth rates,' said Loizou.
According to Loizou, the main drivers of this growth were Limassol and Paphos, which had a catalytic effect on the national figure.
'If we compare the data for the 50 most expensive transactions in January with February 2025, the increase is more than 115 per cent, an impressive result that confirms the recovery of activity in the market,' he added.
It is worth noting that although five land deals, including the most expensive sale in February, were among the top ten by value, land accounted for only 11 properties among the 50 most expensive deals. The majority of sales were residential.
In particular, 26 of the top 50 transactions were houses. If we add apartments, the total number of residential properties reaches 31. This clearly shows the continued interest of investors in the residential segment," says Loizou.
According to him, despite fluctuations in other segments, residential property continues to maintain its momentum, indicating its attractiveness for both domestic and international buyers.