The majority of apartments in Cyprus are being sold in Nicosia

The total amount from the sale of real estate in Nicosia in the third quarter reached 164.9 million euros. The capital sees the highest number of apartment sales in the country.

According to a report published on Wednesday by the Cypriot firm Ask Wire, in the third quarter of 2023, the real estate sales volume in the Nicosia area amounted to 118.8 million euros.

In total, 1,166 properties were sold in Nicosia across four main categories: houses, apartments, plots, and fields, with a combined value of 164.9 million euros.

Within the city and the Nicosia region, 492 apartments, 160 houses, 312 divided fields, and 202 land plots were sold.

The sales volume for apartments reached 81.6 million euros, houses 37.2 million euros, fields 14.1 million euros, and land plots 32 million euros.

As a result, the Nicosia region became the leader in apartment sales in the country in the third quarter, accounting for 28.6% of the total real estate sales volume.

Apartments priced between 100,000 and 200,000 euros gained the highest popularity, representing the cost of six out of ten sold apartments.

Half of the sold houses in Nicosia (81 out of 160) were in the price range of 100,000 to 300,000 euros.

Furthermore, two houses were sold for more than 1 million euros, accounting for 19.4% of the total sales volume and 15% of the overall value of the sold properties. Additionally, the Nicosia region leads the country in land sales, accounting for more than a third of all transactions in the third quarter.