Independent consulting company Wire-FS has published a fresh report on real estate sales in Nicosia over the past five years.
Τhe most popular municipalities for buying housing in the capital are the municipalities of Nicosia, Strovolos, Engomi and Lakatamia. The number of transactions concluded in these areas exceeded 13 thousand, and their volume reach 3.3 billion euros.
At the same time, the municipality of Strovolos accounted for 4.4 thousand transactions worth 1.2 billion euros.
The average selling price of real estate in the municipality of Strovolos was 159,193 euros, and the average range of real estate prices is from 96,162 euros to 250,050 euros. The majority of sales in the municipality were registered in 2019 – 931. The cost of the overwhelming number of transactions (about 3,800) did not exceed the amount of 338,000 euros. Housing worth more than 1 million euros accounted for 137 transactions. The price of the most expensive property was 25.9 million euros.
In the Municipality of Nicosia, the volume of real estate sales for the reporting period exceeded 1 billion euros, and the number of transactions reached 4,000.
The average selling price of real estate here was 110,003 euros, and the average range of housing prices is 71,877 euros to 209,136 euros. The biggest number of purchase and sale transactions in the municipality were registered in 2018 - 867. The cost of the overwhelming number of transactions (2,718) did not exceed the amount of 160,000 euros. The price of the most expensive property sold in this municipality was 13.4 million euros.
In Lakatamia, the total value of the sale of real estate exceeded 700 million euros, and the number of transactions amounted to 3,350.
The average selling price of housing in this area was 136,449 euros, and property prices ranged from 90,000 to 190,000 euros. It is noteworthy that the largest number of housing purchase and sale transactions in the municipality of Lakatamia was closed in 2021 - 746. This indicates that the coronavirus pandemic has not had a significant impact on the area. The vast majority of transactions were in the amount of up to 267,000 euros.
Finally, as for the municipality of Engomi, the total value of the sale of real estate here exceeded 400 million euros, and the number – 1400 transactions.
The average transaction price was 169,000 euros, and prices ranged from 105,000 to 300,000 euros. The majority of sales in the municipality were registered in 2019 – 320, while the majority of transactions were with real estate worth up to 344,000 euros. Housing worth more than 1 million euros accounted for 40 transactions. The price of the most expensive property was 10.6 million euros.
It is worth noting that the largest part of the property sold in the municipalities of Nicosia, Strovolos and Engomi concerned apartments. The exception was the municipality of Lakatamia, where, during the reporting period, houses were a priority for buyers.
In the municipality of Strovolos over the past five years, 2,526 apartments were sold, a total value was 386 million euros and an average price was 127 000 euros. In the municipality of Nicosia, the total cost of 2,332 apartments sold was 374 million euros, and the average price was 102,317 euros. In the municipality of Engomi, 893 apartments were sold with a total value of 165 million euros, the average cost of the object was 133,000 euros. Finally, in the municipality of Lakatamia, 1,140 apartments were sold with a total value of 138 million euros with an average price of 122,000 euros.
Earlier, Wire-FS published a similar report regarding Limassol, where it turned out that housing in the municipalities of Limassol were most popular in Germasogeia and Agios Athanasios. The volume of transactions concluded in them exceeded the mark of 14 thousand objects, and the amount of 6.3 billion euros.
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