In September 2024, Cyprus saw 50 major property transactions worth a total of €57.5 million. The most expensive purchase of the month was a plot of land in the Germasogeia area of Limassol, sold for €5 million.
The top 10 most expensive properties in Limassol accounted for 43% of this amount, while in Paphos it was 22.8%. The Larnaca and Nicosia areas showed similar results: the top 10 most expensive properties in Larnaca were sold for €8.3 million (14.4% of the total price), while in Nicosia they were sold for €8 million.
In Famagusta, where there were also some major transactions, the top ten most expensive sales totalled €3.4 million, highlighting the significant difference in price levels compared to other regions.
According to Ask Wire CEO Pavlos Loizou, the largest transactions in three of Cyprus’ five districts in September involved land sales, including the most expensive deal of the month in Limassol. However, residential property dominates the luxury property market overall, with 31 of the top 50 most expensive sales being residential. Limassol and Paphos stand out for their high residential prices, while Nicosia and Larnaca have similar levels of property value.
Thus, the demand for expensive residential properties remains high, especially in Limassol and Paphos, which attract investors and buyers due to their developed infrastructure and high quality of life.
