Cyprus property market continues to be sustained by foreign buyers
Foreign buyers account for four out of ten property sales in Cyprus in the first quarter of 2024.
Cypriot real estate market
Cyprus apartment sales , €154m in Q4 2023
Fact: In Q4 of 2023, two-bedroom apartments were the main attraction for buyers in Cyprus, with a total of 240 sales completed, amounting to €154 million in value.
Paphos and Limassol dominate top 10 property sales in February
– Ask Wire released a report outlining the ten most expensive property transactions completed in February 2024.
– The top 50 property transactions in February amounted to over €55 million in total value.
– The most expensive sale was a plot of land in the Paphos district valued at €4.8 million.
– Paphos district accounted for five transactions in the top ten sales, followed by Limassol with four, and Nicosia with one.
– The top 50 transactions totaled over €55 million, with 63.4% of this value attributed to properties in Paphos and Limassol districts combined.
– The top ten most expensive properties in Paphos were sold for €17.5 million, in Limassol for €17.4 million, and in Nicosia for €9.4 million.
– The lowest value properties sold in February were in the Larnaca district at €7 million, followed by Famagusta district at €3.7 million.
– Paulos Loizou, Managing Director of Ask Wire, noted a significant increase in high-value property transactions in February compared to January 2024.
– Paphos district demonstrated strength in the market, surpassing Limassol in total sales value due to the highest-priced sale on the island occurring in Paphos.