Cyprus real estate market: top ten most expensive sales in November

The real estate market in Cyprus witnessed significant activity in high-value property transactions during the month of November 2023, according to data released by Ask Wire, a Cypriot firm combining real estate expertise with technology-driven insights.

Ask Wire’s analysis revealed the ten most expensive property sales completed in November, totalling €22 million.

The most expensive sale was a mixed-use building in Paralimni, which fetched €4.8 million.

Among the top 50 transactions, with a combined value of €52 million, the Limassol district led the way with four transactions in the top ten, followed by three in Nicosia, and one each in Larnaca and Famagusta.

In Limassol, transactions came up to a total of €9.56 million, followed by €4.23 million in Nicosia, €3.4 million in Larnaca, and €4.8 million in Famagusta.

The overall value of the 50 highest-priced properties sold in November reached €52 million, with 51 per cent attributed to properties in Limassol and Nicosia.

Pavlos Loizou, Managing Director of Ask Wire, remarked on the data, stating, “November saw substantial movement in the high-value property market”.

“Among the top 50 sales nationwide, 19 properties were valued above €1 million, six sales fell between €900,000 and €999,000, three between €800,000 and €899,000, and five between €700,000 and €799,000,” the Ask Wire CEO added.