Cyprus’ 50 priciest property transactions across Cyprus totalled a substantial €55.7 million in July, according to real estate analytics firm Ask Wire.

Indicatively, the company highlighted a house in Peyia that fetched an eye-watering €5.35 million. 

The company said that the data, sourced from the Cyprus Land Registry, highlights a clear preference for residential properties among the top ten sales, which collectively amounted to €27.2 million.

The Limassol district was particularly active, contributing six out of the top ten transactions and totalling €14.3 million.

This was complemented by significant sales in Paphos, which added three high-value transactions worth €11.5 million, and one in Nicosia, rounding off the list with €1.4 million. 

The most expensive properties spanned various types and locations, with the leading sale being a house in the Peyia municipality, valued at €5.35 million.

This was closely followed by a field in the same locality priced at €4.5 million and a warehouse in Limassol’s Ayios Antonios at €4 million.  

Additionally, an apartment near Mouttagiaka in Limassol brought in €2.8 million, and another in Nicosia’s Agios Andreas fetched €1.38 million.  

Limassol’s Katholiki area saw a commercial property transaction at €2.34 million, while residential sales in Limassol’s Ayios Tychonas and Ayios Athanasios were marked at €2.33 million and €1.3 million, respectively.  

Kato Paphos featured a house sale at €1.7 million, and a field in Limassol’s Pano Platres was sold for €1.5 million. 

Moreover, the report provided a comparative analysis by district, showing a diverse spread of investments across the island.  

Limassol led with investments totalling €19.1 million, representing 34.3 per cent of the high-value transactions. Close behind was Paphos, with €16.8 million, 30.2 per cent of the total.  

Nicosia followed with transactions worth €8.3 million, accounting for 14.8 per cent, slightly surpassing Larnaca’s €8.2 million, which made up 14.7 per cent of the total.

In addition, the Famagusta district saw investments of €3.4 million, contributing 6.1 per cent to the overall figures. 

Pavlos Loizou, CEO of Ask Wire, commented on the findings, saying that ” six of the ten most expensive sales in July were for houses and apartments, a trend we see dominating the 50 most expensive transactions as 30 of them were also for houses and apartments”.

“In July, we see a decrease in the value of high-value property transactions compared to June, which is due to the steep decline recorded in the Nicosia and Larnaca districts,” he added.

He highlighted that while these districts saw top ten sales values exceeding €20 million each in June, they dropped to just €8 million in July.  

“These are losses which could not be covered by increases in high-value property sales in the other three districts of Cyprus “, Loizou concluded.