Top ten property sales in Cyprus reach €39 million in May — Limassol leads the way
The top ten most expensive property sales in Cyprus exceeded €39 million in May of this year, with Limassol continuing to dominate the high end of the market, according to a report compiled by real estate analytics firm Ask Wire.
It is indicative that the priciest real estate transaction, valued at €17.65 million, was recorded in Limassol for a single commercial development.
Moreover, Limassol emerged as the leading district with five transactions among the top ten sales, followed by Paphos and Nicosia with two each, and Larnaca with one.
These transactions totalled €25.8 million in Limassol, €7.5 million in Paphos, €4.6 million in Nicosia, and €1.3 million in Larnaca.
Ask Wire CEO Paulos Loizou noted that “Limassol demonstrates its dominance in high-value property sales, highlighting its enduring market strength”.
“Moreover, May saw an increase in high-value property transactions across all regions of free Cyprus compared to April,” he stated.
“It is noteworthy that the top ten sales span all districts except Famagusta, where the highest sale just missed inclusion by a mere €2,000,” Loizou added.
Meanwhile, the 50 largest transactions in May, divided evenly across all districts in Cyprus, totalled €66.7 million.
Finally, of these transactions, Limassol accounted for 46.2 per cent, Paphos for 20.2 per cent, Nicosia for 17.2 per cent, Larnaca for 8.9 per cent, and the free area of Famagusta for 6 per cent.