Ask Wire has published a new report analysing the sales of high-value properties in Cyprus and highlighting the biggest deals concluded in January 2025.
It turns out that the most expensive property was sold in Limassol - a house in the Mouttagiaka neighbourhood for €2.5 million.
At the same time, it was Limassol that led the way in terms of the number of contracts concluded for the purchase and sale of expensive properties in the first month of the new year. This Cypriot city accounted for 7 out of 10 transactions, with a total value of €9.22 million. In addition to the residential complex, these included
- A house in the village of Souni for €2 million;
- A house in the Mutaiaka neighbourhood for €1.2 million;
- A house in the Agia Zoni area for €1.06 million;
- a house in the area of Agios Athanasios for €820,000;
- a house in the Agia Zoni area for €820,000;
- a plot of land in the area of Agios Nikolaos for 820,000 euros.
The top ten most expensive properties also include: a plot of land in the area of Mazatos (Larnaca) for 1.6 million euros; a house in the area of Pervolia (Larnaca) for 900,000 euros; and a plot of land in the area of Geroskipou (Paphos) for 810,000 euros.
The company noted that in January 2025 in Cyprus sold about 50 objects, costing from 500 thousand euros for a total of 47.3 million euros. At the same time, 36.5% of the value of these sales was attributed to the 10 most expensive properties sold in Limassol, followed by Nicosia (16%), Paphos (19.5%), Larnaca (19.5%) and the free areas of Famagusta (8.5%). In monetary terms, the ten most expensive properties were sold for €11 million in Limassol, €5.9 million in Paphos, €5.9 million in Larnaca, €4.8 million in Nicosia and €2.6 million in the free areas of Famagusta.
With the largest transaction barely exceeding the €2 million mark, the high-end property market took a back seat in January 2025. Remarkably, compared to the previous month, December 2024, the total value of the 50 most expensive transactions decreased by 67%. We can also see that 27 of the top 50 sales were for houses. Taking into account a further nine deals involving luxury apartments, it is clear that the driving force behind the high value property market in January was residential property," commented Pavlos Loizou, CEO of Ask Wire.