According to Ask Wire, the total value of the top ten most expensive sales in Cyprus in January 2025 was €12.1 million. The largest transaction was a house in the Moutagiakka area of Limassol, worth €2.5 million.
The Limassol area dominates the top 10 most expensive transactions with seven transactions worth a total of €8.8 million. The next most important were the Larnaca and Paphos areas. Larnaca recorded two transactions worth €2.5 million, while Paphos recorded one transaction worth €810,000.
The Limassol district also topped the list of the 50 largest transactions in January, accounting for 36.5% of the total transaction value. Larnaca and Paphos each accounted for 19.5%, while the capital, Nicosia, posted a result of 16%. Famagusta had the share of the most expensive transactions at 8.5%. The total value of the 50 largest transactions in January (10 per province) was €30.1 million.
Ten properties in the Limassol area were sold for a total of €11 million, in the Paphos area for €5.9 million, and the same in the Larnaca area. The ten most expensive properties in the Nicosia area were sold for €4.8 million. The 10 most expensive transactions in Famagusta amounted to €2.6 million.
Decline in activity in the luxury real estate market
According to Pavlos Loizou, CEO of Ask Wire, the Cyprus luxury property market was relatively quiet in January 2025. The largest transaction barely exceeded €2 million, indicating limited activity in the high-end segment. Compared to December 2024, the total volume of the top 50 transactions was down 67%.
He also says that 27 of the top 50 sales were homes, and when you add in the nine luxury condo deals, “it’s easy to conclude that residential was the driving force behind the high-end property market in January.”
