Consulting company Ask WiRE has conducted a new study in which it analyzed the sales of expensive real estate in Cyprus and highlighted the ten largest housing deals that concluded in November 2023.
As it turned out, the most expensive property last month was sold in Paralimni in the free areas of Famagusta - a mixed use building worth €4.8 million.
At the same time, the leader in the number of concluded transactions with expensive real estate in November 2023 was Limassol. In this city four properties were sold for a total of 9.6 million euros. Among them: an apartment (3 million euros) and 3 plots of land (6.6 million euros).
Three more expensive properties were sold in Nicosia - a residential house for €1.5 million, a store for €1.45 million and an office building for €1.28 million. In Larnaca in November 2023, two land plots were sold for €1.8mn and €1.6mn.
Interestingly, in November 2023, 50 properties were sold in Cyprus, with prices starting from 500 thousand euros.
Their total value exceeded 52 million euros. At the same time, 51% of the value of these sales came to 20 properties in Limassol (28.8%) and Nicosia (22.3%). The total value of the ten most expensive properties in Limassol in November 2023 amounted to €15 million, in Nicosia - €11.6 million, in Larnaca - €9.7 million, in the free areas of Famagusta - €8.4 million and in Paphos - €7.2 million.
It is clear from the analysis that there was movement in the expensive real estate market in November. Of the 50 largest sales in Cyprus, 19 of them concerned properties worth more than 1 million euros, six sales were in the range of 900-999 thousand euros, three in the range of 800-899 thousand euros and another five sales in the range of 700-799 thousand euros," Ask Wire CEO Pavlos Loizou commented on the report.