08.05.2024
The Cyprus Real Estate Agents Registration Board on Wednesday published a breakdown of property transactions and their average prices for the first quarter of 2024 by property type.
The council said analysis of comparative sales data provided by the Department of Lands and Surveys “provides important information on transactions and property values in Cyprus in the first quarter of 2024.” Moreover, the council noted that its analysis primarily focuses on four key property categories, including apartments, houses, lots and fields. The purpose of this analysis is to determine the average value of completed sales in each area along with the corresponding transaction volumes.
The Council stated that “it is important to clarify that the data on average prices does not only refer to sales made in the cities of Cyprus. Instead, they are calculated by taking into account all sales made within the geographic boundaries of each area,” the company added.
During this period, 421 apartment transactions were recorded throughout the country. Most of these transactions were concluded in Nicosia. However, the highest average cost of apartments – 208,220 euros – was recorded in Limassol. The average cost of apartments is significantly lower in Nicosia – 131,841 euros, Larnaca – 116,914 euros, Paphos – 107,175 euros and Famagusta – 105,182 euros.
