• The top 50 transactions across Cyprus amounted to €68.4 million.

• The highest-value sale took place in Kato Polemidia and involved a mixed-use building sold for €9.9 million.

Ask Wire, a tech-driven company specializing in monitoring real estate transactions, asking prices, and construction activity, has analyzed and published data on the 10 most expensive property deals completed in October 2024. The report also includes the total value of the top 10 sales by district.

The 10 most expensive property sales across Cyprus totaled €34.6 million. The highest-value sale was a mixed-use building in the Panagia Evangelistria area of Kato Polemidia, Limassol district, priced at €9.9 million.

The list of the top 10 sales includes properties from all non-occupied areas of Cyprus. Limassol recorded four transactions in the top 10, followed by Paphos and Larnaca with two each, and Nicosia and non-occupied Famagusta with one each. The total value of these transactions by district was as follows:

• Limassol: €16.7 million

• Paphos: €8.7 million

• Larnaca: €4.65 million

• Nicosia: €2.1 million

• Famagusta: €2.5 million  

Source: Department of Land and Surveys, Analysis: Ask Wire

The 50 most expensive deals in October -10 from each district- had a total value of €68.4 million.

• Sales in Limassol accounted for 37.4% of the total value. The total value of the top 10 properties sold was €25.6 million.

• Paphos followed with 24.6%, as its top 10 properties were sold for €16.8 million.

• Nicosia contributed 15.6%, with its top 10 properties sold for €10.7 million.

• Larnaca represented 14%, with its top 10 properties sold for €9.6 million.

• The non-occupied Famagusta district recorded the lowest contribution, with its top 10 properties sold for €5.7 million.

These figures highlight the varying levels of real estate activity across Cyprus, with Limassol leading the market in both transaction volume and value.

Source: Department of Land and Surveys, Analysis: Ask Wire

Source: Department of Land and Surveys, Analysis: Ask Wire

Pavlos Loizou, CEO of Ask Wire, shared insights on the findings: “Over 90% of the top 50 transactions, totaling €62.4 million, were conducted in the 'Open Market,' emphasizing strong private demand. Bank restructuring sales accounted for only 8.8%, highlighting a vibrant, buyer-driven market.”

He added: “Transactions ranging from €500,000 to €5 million underscore Cyprus’s dual role as a residential and holiday destination. Demand for development land in Larnaca and Paphos is growing, while interest in commercial and mixed-use properties remains concentrated in urban centers like Limassol and Nicosia."

For more information and insights on the real estate market, visit Ask Wire