Over the past 5 years, three municipalities of Limassol have occupied a significant part of the market. This refers to Germasogeia, Agios Athanasios and Limassol.
WiRE company specializes in real estate services. According to its specialists, over the past 5 years, the value of the purchase and sale of real estate in the three indicated areas has reached €6.3 billion, and the number of transactions is 14,000. 30 billion euros. The total number of concluded transactions is 100,000.
More specifically, in Limassol, the total volume of transactions reached €3.3 billion and the total number of signed acts reached 7,900. The average transaction price is estimated at €178,912, with a standard price range of €110,082 to €314,714. The maximum number of sales was noted in the municipality in 2018 – 1781 objects. The vast majority of transactions, 5485, were worth up to 260,000 euros. There were 625 transactions exceeding €1 million in value, of which 422 were between €1.5 million and €70.3 million.
As for the municipality of Yermasogeia, the transaction value was more than €2.1 billion, and the number of acts was 4095. However, the average transaction price was significantly higher than in Limassol. It is estimated at €341,431. The classic range of prices ranges from 161,113 to 598,725 euros. The maximum number of transactions here was recorded in 2018, when they reached the number of 940. The majority of transactions, 1786, cost between €123,000 and €443,000. There were 478 transactions worth more than €1 million, of which 192 were between €1.7 million and €21.8 million.
The municipality of Agios Athanasios also made it into the top three. The amount of transactions amounted to about €800 million. The number of surgeries has reached its highest level since 2000. The average transaction price is €264,296, with a standard price range of €172,875 to €429,995. The maximum sales in the municipality were recorded in 2019, when they reached 443. At the same time, most of the transactions – 1054, ranged from 178,000 to 472,000 euros. There were only 73 transactions worth more than €1.4 million, the maximum value was €17.9 million.
Owners of honorary apartments
A common feature of sales in total in 3 municipalities was that most of them concerned apartments. In particular, 4,566 apartments totaling €1.5 billion, with an average price of €165,000, have been sold in Limassol over the past five years. Germasogeia has 2676 sold apartments in its statistics, the total amount of transactions is €1.3 billion, and the average price is €363,458. Finally, the statistics for the municipality of Agios Athanasios show 744 sold objects. The total sales price for these apartments was €230 million, while the average price was €235,550.