The total value of property sales in Limassol rose to almost half a billion euros in the second quarter of 2023.
The report highlights the fact that most buyer interest is focused on apartments priced between €100,000 and €500,000, while the majority of house sales are in the €300,000 to €500,000 range.
Limassol , known for its dynamic property market, accounted for 34.6% of total sales and a significant 46.7% of the total value of land sales throughout Cyprus during this period.
A total of 1,383 properties were sold across four main categories (houses, apartments, land and fields) for a staggering €437.9 million.
Commenting on the findings, Pavel Loizu , CEO of Ask Wire , stated that “analysis of data for the Limassol area confirms its difference from other areas controlled by the Cypriot government. At the same time, this also confirms its importance for the real estate market and the country’s economy. It is also clear that there is an increased cost of acquiring real estate due to the city’s role as a business center , which is home to dozens of foreign companies with thousands of employees,” he added, while noting that “many apartments and houses are sold at prices exceeding 1 million euros.”