12.09.2023
Ask Wire , a company combining real estate expertise with the use of technology, has analyzed and presented data on the volume and value of sales of apartments, houses, fields and plots in the Limassol area in the second quarter of 2023.
A total of 1,383 properties were sold in four main categories (houses, apartments, plots and fields) for a total of €437.9 million .
499 apartments, 271 houses, 430 fields and 183 plots were sold in the city and province of Limassol .
The cost of sold apartments reached 197.2 million euros, houses – 115.8 million euros, fields – 75.5 million euros, plots – 49.35 million euros.
Apartments
The report showed that Limassol has secured its leading position in Cyprus, capturing 26.6% of the country’s apartment sales volume. It is noteworthy that the majority of buyers in the Limassol area were interested in apartments priced between €100,000 and €500,000, with 80 percent of these apartments finding new owners in this price range.
In particular, 29.9% of sales were apartments costing from 100,000 to 200,000 euros, 27.9% – from 200,000 to 300,000 euros and 24.4% – apartments costing from 300,000 to 500,000 euros.
Limassol also recorded the sale of 29 apartments worth more than €1 million, with the most expensive apartment selling for €10.3 million.
At home
The majority of house sales in the Limassol area are for properties priced between €300,000 and €500,000. At these prices, 78 houses were sold, corresponding to 28.8% of the total.
15 houses were sold for over €1 million , with the most expensive selling for €10 million. Purchases of houses in the Limassol area in the 2nd quarter of the year corresponded to 26.9% of total sales in Cyprus and up to 35.8% of value .
Fields
Almost seven out of ten pitches sold in the Limassol area in the second quarter of 2023 were priced below €50,000, with the majority (242 pitches and plots) selling for less than €25,000.
An analysis of sales by area shows that ¼ of sales come from fields of up to 1000 square meters. The total area of 68 fields exceeded 10 thousand square meters. Limassol’s share of the island’s property sales market was 34.6% by volume and an impressive 46.7% by value.
Land
Limassol area also dominated the land sales market, accounting for 28.7% of sales volume and 38.6% of sales value recorded across Cyprus in the second quarter of the year. About half of the plots sold were priced between €50,000 and €200,000, with the most expensive plot purchased for €5.9 million. In addition, 51 plots of more than 1,000 square meters were sold in Limassol , representing 27.9 percent of the total. These figures highlight the continued growth and attractiveness of the Limassol Cyprus property market, attracting both local and international investors looking for a variety of property options.
