A rating of the most expensive real estate deals in Cyprus in January has been compiled

The Cypriot real estate analytics company, Ask Wire, has published a report on the ten most expensive real estate transactions in Cyprus in January 2024.

According to the report, the total value of the top ten largest real estate deals across the island reached 14.3 million euros. The most expensive property was land and a building in Potamos Germasoyia, Limassol, which was acquired for 2.97 million euros.

Five of the largest transactions in January were concluded in Limassol. In Larnaca and Paphos, two deals each made it into the January ranking, while Nicosia had one.

The total value of these deals in Limassol reached 7.54 million euros, in Larnaca – 2.68 million euros, in Paphos – 3.1 million euros, and in Nicosia – 990,000 euros.

Limassol leads in terms of the number of major transactions in each district with transactions totaling 11 million euros, followed by Paphos with 7.7 million euros and Larnaca with 7.3 million euros.

Additionally, transactions worth 5.5 million euros and 2.8 million euros were recorded in Nicosia and Famagusta, respectively.

The ten largest transactions in Limassol accounted for 32% of the total value of all sales, indicating the city's outstanding position in the high-end real estate market.

Moreover, the combined value of the ten most expensive real estate properties sold in Paphos was slightly higher than in Larnaca.

According to Ask Wire's CEO Pavlos Loizou, the high-end real estate market in Cyprus showed a moderate start in the first month of 2024. Transactions ranked from 7th to 10th in the country represent amounts below 1 million euros.