According to data from the analytics company Ask Wire , the Nicosia property market is seeing increased interest in second-floor apartments. The report also points to significant differences in the price per square metre depending on the floor, ranging from €2,133 to €7,075.
The company monitors dozens of ongoing and recently completed projects using a dedicated developer tool. Specifically, in Nicosia, it monitors 72 construction projects managed by 38 different developers. These projects cover apartment buildings that were started or completed between January 2016 and July 2024, providing a broad picture of the city’s property market.
The analysis shows that 568 apartments were sold in these 72 projects. Apartments on the second floor were the most popular, with 144 transactions, followed by apartments on the first floor with 133 sales and on the third floor with 111. Demand was noticeably lower on the upper floors: 56 apartments were sold on the fourth floor, 22 on the fifth, 12 on the sixth and seventh, and 13 apartments were sold on the eighth floor.
In terms of prices, the report shows that higher floors offer apartments at a higher price. The average price per square metre on the ground floor is €2,199, on the second floor – €2,289, on the third – €2,340. For example, an 85 square metre apartment on the ground floor costs around €187,000, on the second floor – €195,000, and on the third floor – €200,000.
The highest price per square meter was recorded on the 19th floor – €7,075, and the lowest was on the first floor with a price of €2,133 per square meter.
CEO of Ask Wire Pavlos Loizou noted that the analysis revealed important trends in the Nicosia property market, including a growing interest in more affordable housing, which is linked to demographic and economic changes. Loizou stressed that such data helps developers and property professionals make more informed decisions based on real data and current market trends.
