As mentioned by CyprusMail, the top ten property sales across the island totaled €14.3 million. The most expensive sale was a combination of land and a building located in Potamos Germasogeias, Limassol, which sold for €2.97 million.
According to CyprusMail, the total transaction value of the 50 largest sales in January stood at €34.4 million. Limassol emerged as the dominant region, contributing five transactions to the top ten list, followed by Larnaca and Paphos with two each, and Nicosia with one.
The breakdown of total transaction values by region reveals that Limassol accounted for €7.54 million, followed by Larnaca with €2.68 million, Paphos with €3.1 million, and Nicosia with €990,000.
Analyzing the top transactions in each district, Limassol led with transactions amounting to €11 million, trailed closely by Paphos at €7.7 million and Larnaca at €7.3 million. Nicosia and Famagusta recorded transactions of €5.5 million and €2.8 million, respectively.
Reported by CyprusMail, the top ten transactions in Limassol accounted for 32 per cent of the total value of all sales, underscoring the city’s prominence in high-value real estate. Additionally, the combined value of the ten most expensive properties sold in Paphos in January slightly exceeded that of Larnaca.
Pavlos Loizou, CEO of Ask Wire, offered insights into the market dynamics, noting that “the high-value real estate market had a moderate start in the first month of 2024.” He further elaborated, highlighting that “positions 7 to 10 represent transactions valued below €1 million.”
Loizou also pointed out the intriguing competition between Larnaca and Paphos in this property category, hinting at the potential for Nicosia to ascend the ranks in the future.
Source: https://cyprus-mail.com/2024/02/23/cyprus-ten-most-priciest-property-sales-in-january-2024/
