Ask Wire, a company that uses technology to monitor property transactions, asking prices and construction activity, has conducted a market analysis in Cyprus’ two largest cities, Limassol and Nicosia. The company’s research highlights fundamental differences between the two markets.
Limassol and Nicosia are the leading cities in terms of apartment transactions, accounting for the bulk of all transactions on the island. However, the structure of supply and demand in these cities is noticeably different.
Limassol has established itself as a major centre for luxury residential property. The city attracts wealthy foreign buyers by offering exclusive luxury apartments with modern amenities and views of the coast. This makes Limassol attractive to developers who target the premium segment.
“Limassol developers can capitalise on the strong demand for luxury apartments by offering a variety of projects that meet the expectations of international investors seeking exclusivity and a comfortable lifestyle,” said Ask Wire CEO Pavlos Loizou.
While Limassol is known for its premium market, Nicosia leads the affordable residential segment. The main demand here is generated by local buyers and investors, which ensures the stability of the market. Nicosia remains an important economic and administrative center, which maintains high demand for apartments for families and entrepreneurs.
Pavlos Loizou emphasized that for successful investments in the capital, it is worth considering medium-sized projects aimed at the needs of the local population and entrepreneurs. Such projects provide stable profits due to constant demand.
The Ask Wire analysis highlights that understanding the specifics of the Nicosia and Limassol market allows developers and investors to develop strategic plans more effectively. By planning and offering the right properties, developers and investors can achieve consistent results and meet the needs of different buyer groups.
