Cyprus property market sees 50 largest transactions hit €47.5 million

Cypriot firm Ask Wire this week released a report detailing the value of the ten most expensive property sales transactions completed in July 2023, along with the cumulative value of the top 50 transactions for June.

According to the firm, which is known for blending real estate expertise and technological innovation, the data reveals that the fifty largest property transactions in Cyprus, totalling €47.5 million, took place in June.

In addition, the top ten sales for July amassed a total value of €20.5 million, with the priciest deal being a land sale at €3.5 million in Pervolia, Larnaca.

Moreover, transactions exceeding €35 million were documented in the districts of Limassol, Paphos, and Larnaca.

Specifically, the top ten properties sold in Limassol fetched a total of €12.6 million, Larnaca’s top properties brought in €11.8 million, and Paphos recorded €11 million.

The Nicosia district featured the least expensive of the top ten sales, amounting to €7.5 million, followed by Famagusta with €4.8 million.

Paul Loizou, CEO of Ask WiRE, commented on the data, stating, “July did not witness any transactions that stood out in any major way”.

“Nonetheless, we are observing the vigour in Larnaca, particularly in the Pervolia area, which saw notable transactions in June,” he added.

The below chart shows some of the priciest transactions during July 2023: