Most Popular Limassol Areas to Buy Property

Названы самые популярные районы для покупки жилья в Лимассоле
7 December 2021 Liza Medvetskaya
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Independent consulting company Wire-FS has published a new report on real estate sales in Limassol over the past five years.

As it turned out, the most popular among local and foreign investors was property in the municipalities of Limassol, Germasogeia and Agios Athanasios. The volume of transactions concluded there exceeded the mark of 14 thousand properties, and the amount of 6.3 billion euros.

At the same time, the total volume of real estate sales in Cyprus has approached a record high of 30 billion euros. Over the past 5 years, more than 100 thousand housing units have been sold in the country.

It is noteworthy that the Limassol Municipality accounted for 7.9 thousand transactions worth more than 3.3 billion euros.

The average price of a property in Limassol Municipality was 178,912 euros, while the average range of property prices ranged from 110,082 euros to 314,714 euros.

The largest number of housing purchase and sale transactions in Limassol Municipality was closed in 2018 - 1781. The value of the largest number of real estate sold (5485) over the past five years has not exceeded 260 thousand euros. Housing worth more than 1 million euros - 625 transactions: 422 purchase and sale agreements concerned properties from 1.5 to 70.3 million euros.

In the municipality of Germasogeia, the volume of real estate sales for the reporting period exceeded 2.1 billion euros, and the number of transactions reached 4095.

The average selling price of the property was 341,431 euros, which is about twice the average price in the municipality of Limassol. From 2017 to 2021, real estate prices in Germasogeia ranged from 161,113 to 598,725 euros, with most of the sales (940 transactions) occurring in 2018. The cost of about 1786 purchase and sale transactions ranged from 123,000 to 443,000 euros, 1187 - from 443,000 to 959,000 euros. Housing worth more than 1 million euros in the municipality of Germasogeia accounted for 478 transactions: 192 purchase and sale agreements concerned properties, the price of which ranged from 1.7 to 21.8 million euros.

In Agios Athanasios, the total value of the sale of real estate exceeded 800 million euros, while 2 thousand transactions have been made over the past five years.

The average selling price of housing in this area was 264,296 euros, and property prices ranged from 172,875 to 429,995 euros. The largest number of housing purchase and sale transactions in Agios Athanasios was closed in 2019 - 443. The value of the largest number of real estate sold (1,054) over the past five years ranged from 178,000 euros to 472,000 euros. Housing worth 1.4 million euros in the municipality of Agios Athanasios accounted for 73 transactions. At the same time, the highest registered sale price of real estate here was 17.9 million euros.

According to the report, most of the property sold in these municipalities were apartments.

By the way, only in the Limassol municipality 4,566 apartments were sold for a total of 1.5 billion euros. The average price was 165 thousand euros. During this time, 2,676 apartments were sold in Germasogeia for a total of 1.3 billion euros, and the average price was 363,458 euros. In Agios Athanasios, 744 apartments were sold with a total value of 230 million euros at an average price of 235,550 euros.

Названы самые популярные районы для покупки жилья в Лимассоле

Decided to buy an apartment or a house in Cyprus? Contact DOM! The website has a huge selection of real estate - residential and commercial. Experienced agency specialists will be happy to help you make the right choice.

Source: stockwatch.com.cy
Photos: DOM, pixabay.com
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