16.08.2023
Residents of Limassol are invited to buy “golden” apartments, the cost of which is constantly growing. In Limassol , a steady upward trend is evident, both in prices and in sales of apartments.
Price increase
The total value of apartment sales in the first quarter of 2023 in Limassol amounted to EUR 20.3 million , recording an increase of 54.7% compared to the first quarter of 2022.
by 14.3%, reaching 88, and their total area ( sq.m. ) reached 8,400 sq.m. also registered an increase of 24%.
The cost of apartments in all categories has increased, with the exception of studios, which recorded a decrease in the average price by 21% compared to the first quarter of 2022.
The largest increase (29%) was recorded in the average prices for apartments with more than three bedrooms.
Two-bedroom apartments in Limassol saw an annual increase of 17%, one-bedroom apartments grew by 13%, while it is estimated that a three-room apartment costs 5% compared to the first quarter of last year.
Buyers prefer bigger apartments
According to the types of apartments sold in the first quarter of 2023 in Limassol , two- and three-room apartments have the same indicator with a percentage of 26% in each category. Three-bedroom apartments account for 20% of sales, one-bedroom apartments 15%, and studio sales 13% of total apartment sales.
Sales over three bedrooms were the highest at €7.1 million, followed by three bedroom apartments at €6.1 million. Sales of two bedroom apartments in Limassol were €4.3 million, sales of one bedroom apartments and reached €1.8 million and studio sales reached €1 million.
