Ask Wire has conducted a new study in which it analyzed the sales of expensive real estate in Cyprus and highlighted the biggest deals that were concluded in February 2024.
As it turned out, the most expensive property was sold in Paphos - a plot of land in the neighborhood of Agios Theodoros worth €4.8 million.
Moreover, this city of Cyprus was the leader in February in the number of concluded contracts for the sale of expensive real estate. Paphos accounted for 5 out of 10 transactions, the total value of which amounted to 12.57 million euros. Among them: villa and land plots.
In addition, four expensive properties were realized in Limassol in February 2024:
- A plot of land with a building standing on it for €2.97 million,
- a plot of land for €2.75 million, a villa for €2.4 million,
- a villa for €2.4 million,
- a villa for €1.77 million.
- In Nicosia, mixed-use property was sold for €2.75m.
The company noted that in February 2024 in Cyprus sold about 50 properties with a value of 500 thousand euros and above for a total of more than 55 million euros.
Meanwhile, 31.8% of the value of these sales was accounted for by the 10 most expensive properties sold in Paphos, followed by Limassol (31.6%), Nicosia (17.1%), Larnaca (12.7%) and the free areas of Famagusta (6.7%). In monetary terms, the ten most expensive properties in Limassol were sold for €17.4 million, in Paphos for €17.5 million, in Larnaca for €7 million, in Nicosia for €9.4 million and in the free areas of Famagusta for €3.7 million.