Landbank Analytics has mapped the areas with the highest residential demand per district for the period of January to September 2024. This analysis is based on the contracts of sales filed to the Department of Lands and Surveys during the first nine months of the year.

Andreas Christophorides, CEO of the Landbank Group, stated: " Our analysis aims to capture the demand trends for residential properties across Cyprus and to delve into the factors driving or reducing interest in specific areas. Our goal is to identify the regions attracting buyers and the reasons behind their choices. The price of a house or an apartment is not the sole criterion for buyers. For houses, demand leans towards suburban areas, whilst apartments see the greatest interest in city centers, where the highest values are recorded. The general trend towards decentralization is not surprising. Our analysis highlights the areas likely to see increased demand and rising prices, making them attractive for both homeownership and investment purposes."

In the Nicosia district, 161 house sales with a total value of €49.8 million and 1,194 apartment sales worth €236.9 million were recorded during the first nine months of 2024.

Most house sales took place in Lakatamia (45), with an average price of €347,000. In Geri and Tseri, 44 houses were sold (22 in each), with average prices of €358,000 and €237,000, respectively. Dali recorded 18 sales with an average price of €276,000, and Latsia followed with 15 sales averaging €342,000.

For apartments, the majority of sales occurred in six areas: Strovolos (225 sales, €202,000 average price), Lakatamia (194 sales, €163,000), Aglantzia (188 sales, €142,000), Nicosia City (166 sales, €324,000), Engomi (150 sales, €182,000), and Latsia (117 sales, €172,000).

Lakatamia leads in house sales with a total value of €15.6 million, while Nicosia City dominates apartment sales, reaching €53.8 million.

In Limassol, 237 house sales totaling €165 million and 1,469 apartment sales worth €820 million were recorded during the first nine months of the year.

The highest number of house sales was in Ypsonas (31 sales, €346,000 average price). Agios Tychonas followed with 22 sales averaging €818,000, Parekklisia recorded 21 sales with an average of €519,000, and Kolossi and Agios Athanasios each had 20 sales, averaging €307,000 and €627,000, respectively. Other notable areas include Erimi (18 sales, €359,000 average) and Limassol’s Cherkezoi area (17 sales, €1.7 million average).

For apartments, sales were concentrated in Limassol City (557 sales, €471,000 average price), Germasogeia (247 sales, €706,000), and Agios Athanasios (133 sales, €342,000).

Cherkezoi led house sales with a total value of €28.6 million, while Limassol City topped apartment sales, reaching €262.4 million.

In Larnaca, 191 house sales worth €64.35 million and 1,113 apartment sales totaling €218.8 million were recorded during the same period.

Most house sales occurred in Aradippou (53 sales, €291,000 average price), followed by Livadia (27 sales, €444,000), Kiti (24 sales, €280,000), and Pyla (32 sales, €375,000).

Apartment sales were concentrated in Larnaca City (413 sales, €214,000 average price), Livadia (226 sales, €199,000), Aradippou (214 sales, €180,000), and Pyla (144 sales, €203,000).

Aradippou led house sales with a total value of €15.4 million, while Larnaca City dominated apartment sales, reaching €88.5 million.

In Paphos, 243 house sales worth €149.6 million and 416 apartment sales totaling €138.4 million were recorded.

The most house sales occurred in Geroskipou (44 sales, €543,000 average price), followed by Peyia (36 sales, €658,000) and Chloraka (35 sales, €520,000). Paphos and Konia each recorded 26 sales, with average prices of €1 million and €557,000, respectively. Kissonerga and Emba followed with 22 and 20 sales, averaging €501,000 and €363,000, respectively.

Apartment sales were mainly in Paphos City, with 313 units sold at an average price of €336,000.

Paphos led in house sales value with €26.7 million and also topped apartment sales, exceeding €105 million.

In the non-occupied district of Famagusta, 86 house sales worth €28.6 million and 143 apartment sales totaling €32.8 million were recorded.

Paralimni dominated both house (50 sales, €412,000 average price) and apartment sales (105 sales, €262,000 average price).