01.03.2024
According to the Cyprus Cadastre and Survey Department, the total number of properties sold in 2023 reached 24,200 compared to 23,600 properties in 2022, representing an annual increase of 3%.
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Top 5 sales in Limassol
Last year, a total of 7,150 properties were sold in Limassol , with an annual increase of 3%, with transaction values reaching €2.3 billion, up 8% from 2022.
The most expensive – for 24.2 million euros – were sold eight adjacent plots of land, which are located along the coast, near the port area of Limassol .
Residential project consisting of five apartment buildings in Agios Ioannis , was sold for 13.2 million euros.
At the same time, a field with a total area of 10,850 sq.m. was sold for 12 million euros . along Griva Digeni Avenue in Agios Nikolaos . A plot of 22,400 sq.m. , near the new port of Limassol , in the Zakaki area, was sold for the same amount .
Rounding out the top five most expensive real estate sales in Limassol is a three-bedroom apartment on the fifth floor of a new coastal residential complex in Pareklisia . The sale price of the property is 10.3 million euros.
Top 5 sales in Nicosia
Property sales in Nicosia reached €1 billion, representing a slight annual growth of 1%. At the same time, the total number of transactions increased by 3% and reached 6,000.
The most expensive property sold in the capital in 2023 was a mixed-use commercial building under construction in Latsia . The transaction amount was 4.7 million euros.
In Latsia, a house located on a plot of 6,700 sq.m. was sold for 4.5 million euros .
The transaction price for an industrial facility under construction in the municipality of Idali reached 4 million euros, and an industrial facility in the industrial zone of Strovolos was sold for 3.2 million euros.
Rounding out the top five most expensive property sales in Nicosia is a block of apartments on a 775 sqm plot in Engomi, which sold for €3.1 million..
Top 5 sales in Larnaca
The development of the property market in 2023 in Larnaca was impressive, with 5,240 sales recorded, with an annual growth rate reaching 20% and total values increasing by 22% to €896 million.
The most expensive property sold in Larnaca last year was a 38,000 m2 field located in a tourist area, 100 meters from the sea, in Pyla, with a sale price of €8.9 million.
In the center of Larnaca, a plot of land with an area of 6000 sq.m. in a residential and commercial area, was sold for €6.8 million, and the deal was for a seaside plot in Pervolia with an area of 9,000 sq.m. was closed for 3.8 million euros.
A two-star hotel with 40 rooms in the center of Larnaca was sold for €3.8 million. At the same time, a plot of land with an area of 20,000 m2, located in Pervolia , 50 meters from the sea, was sold for €3.7 million.
Top 5 sales in Paphos
The total value of properties sold in 2023 in Paphos was over €1 billion, up 4% on 2022. The total number of transactions increased annually by 3%, reaching 4430 units.
The sale of a villa located in Tsada became the most expensive transaction of the year in Paphos. Its cost was €8.4 million.
A villa in Kouklia was sold for €5 million and another villa in Tsada was sold for €4.1 million.
The course, with a total area of 16,000 m2, which is located in Peyia , near Coral Bay and is part of a tourist area, was sold for 3.9 million euros.
The top five most expensive property sales in Paphos are completed by a plot of approximately 7,300 sq.m. in a residential area located in close proximity to the archaeological site of the Tombs of the Kings. The plot was sold for 3.5 million euros.
Top 5 sales in Free Famagusta
The smallest number of real estate sales with the lowest transaction costs was recorded in Free Famagusta. The number of sales was 1,320 units, which is 1% more than in 2022, and their value increased by 3% to 253 million euros.
The most expensive deal was concluded for the sale of a seaside plot with a total area of 28,000 m2, located in the tourist area in Paralimni . The sale price was 9.1 million euros.
In Ayia Napa, a five-bedroom beachfront villa sold for €5.5 million, while a 2,700 square meter commercial building with office space and shops on Protaras Avenue sold for €4.8 million.
The sale price of a plot of land by the sea with an area of 12,000 sq.m. , located in a tourist area, in the municipality of Paralimni , was 3.8 million euros.
Rounding out the top five property sales was a six-bedroom penthouse on the fifth floor of a newly built seaside residential complex in Paralimni , which sold for €2.6 million.
