Ask Wire has published a new report analysing the sales of expensive property in Cyprus and highlighting the biggest deals that took place in March 2025.
As it happens, the priciest item was sold in Nicosia – an office in the Agia Omologites neighbourhood for €29.3 million.
At the same time, two more major deals were wrapped up in the capital of Cyprus. These were the sale of a plot of land in Aglandzia, worth €6 million, and a commercial property in Agia Omologitis, worth €2.4 million. But the leader in the number of transactions with expensive property in March was actually Larnaca, where 4 out of 10 elite properties were sold.
- an unfinished residential complex in the Pila neighbourhood, worth €3.5m;
- an apartment block in the Skala neighbourhood, worth €3.3m;
- a plot of land in the Livadia neighbourhood, worth €2.7m;
- and a plot of land in the Softades neighbourhood, worth €1.98m.
The March list ended with three expensive properties being sold in Limassol: a plot of land in the Tsiflikoudia area for €2.75m, a flat in the Germasoya area for €2.5m and a plot of land in the Germasoya area for €2m.
The company said that around 50 properties were sold in Cyprus in March 2025. These were priced from €500,000 to €92.7 million.
Meanwhile, 49% of the value of these sales was accounted for by the 10 priciest properties sold in Nicosia, followed by Larnaca (18.8%), Limassol (17.5%), Paphos (7.7%) and the free areas of Famagusta (7%).
The ten priciest properties in Nicosia were sold for €45.5m, in Larnaca for €17.4m, in Limassol for €16.2m, in Paphos for €7.1m and in the free areas of Famagusta for €6.5m.
Wire CEO Pavlos Loizou had this to say about what's currently happening in the luxury property market: it's pretty unusual to see interest in different regions shifting around like this.
In March, we saw a pretty interesting shift in the high-end property market. For the first time in ages, Limassol has been overtaken by Nicosia and Larnaca in terms of the volume of high-end transactions. Loizou pointed out that Limassol is only represented by three properties in the top ten most expensive sales of the month.
Nicosia was the strongest, with the most expensive deal in March accounting for 64.4% of the total value of the ten priciest deals in the capital. Larnaca's still a hot spot for investors looking to buy high-end property. But Paphos saw a big drop in activity, and the empty areas of Famagusta almost matched it in terms of expensive transactions.
Compared to February 2025, the value of the 50 most expensive transactions in March went up by 43%, showing high demand and a steady growth in interest in the premium segment. As before, the housing market is still top of the list, with 27 of the 50 most expensive properties in March being residential houses and apartments. But the land market is something we should pay particular attention to: 14 land deals made it into the top 50, with five of them being among the ten most expensive deals of the month. Loizu says that these market trends show a change in investment strategies and growing interest in alternative investment formats.