30.06.2024
According to a report compiled by research firm Ask Property specialist Wire reported that the top ten most expensive property sales in Cyprus topped €39 million in May this year, with Limassol continuing to dominate the luxury end of the market.
It is significant that the most expensive real estate transaction worth 17.65 million euros, the sale of one commercial property, was recorded in Limassol . Moreover, Limassol was the leader in the number of transactions among the top ten sales, second place was shared by Paphos and Nicosia with two transactions in each area, and third place was taken by Larnaca with one transaction.
The total value of transactions in Limassol amounted to 25.8 million euros, in Paphos – 7.5 million euros, in Nicosia – 4.6 million euros and in Larnaca – 1.3 million euros.
CEO Ask Wire Pavlos Loizou noted that “ Limassol demonstrates a leading position in the field of luxury real estate sales, highlighting its continued market strength. Moreover, in May, compared to April, there was an increase in the number of transactions for the purchase and sale of luxury real estate in all regions of Cyprus,” he said. “It is noteworthy that all areas were included in the top ten sales, with the exception of Famagusta , where the highest sale fell just 2,000 euros short of inclusion in the ranking,” Loizou added .
The total value of the 50 largest transactions in May, evenly distributed across all districts of Cyprus, amounted to 66.7 million euros. Of these transactions, Limassol accounted for 46.2%, Paphos – 20.2%, Nicosia – 17.2%, Larnaca – 8.9% and Famagusta – 6%.
