Cypriot fintech Ask Wire has compiled and published data on the 10 most expensive real estate transactions completed in April 2024, detailing the total value of sales by each of the five district.
The top 10 most expensive real estate sales in Cyprus totalled €16.2 million, with the most expensive being a house in Kouklia, Paphos district, priced at €3 million.
Limassol accounted for six of these top ten transactions, Paphos for three, and Nicosia for one. The total value of transactions in Limassol was €10.3 million, in Paphos €4.9 million, and in Nicosia €1 million
The ten most expensive real estate sales in April 2024
| Property type | Selling price | District/ Municipality – Community |
| House | €3 million | Paphos / Kouklia |
| House | €2.6 million | Limassol / Pano Platres |
| Field | €2.1 million | Limassol / Agios Ambrosios |
| Apartment | €1.73 million | Limassol / Mouttagiaka |
| House | €1.5 million | Limassol / Mouttagiaka |
| Plot | €1.4 million | Limassol / Municipality of Agios Athanasios |
| Plot | €1 million | Nicosia / Strovolos Municipality / Varnavas & Agios Makarios District |
| House | €950 thousand | Paphos / Kissonerga |
| Field | €950 thousand | Paphos / Kissonerga |
| Apartment | €930 thousand | Limassol / Agia Zoni |
Source: Department of Lands & Surveys, Analysis: Ask Wire
In April, the 50 largest transactions, ten per district, amounted to a total value of €35.6 million.
Of this total, 37.1% came from the 10 properties in the Limassol district, and 27.5% from the 10 properties in the Paphos district. The 10 most expensive properties in the Nicosia province were sold for €5.5 million, those in Larnaca for €4.1 million, and in the free province of Famagusta for €3 million.
Total value of 10 most expensive sales per district
| District | Total transaction value | Percentage of the country’s total |
| Famagusta | €3 million | 8.4% |
| Larnaca | €4.1 million | 11.5% |
| Limassol | €13.2 million | 37.1% |
| Nicosia | €5.5 million | 15.4% |
| Paphos | €9.8 million | 27.5% |
| All of Cyprus | €35.6 million |
Source: Department of Lands & Surveys, Analysis: Ask Wire
Most expensive sale by District
| District | More expensive transaction | Type of more expensive property | Percentage of the entire district |
| Famagusta | €688 thousand | House | 22.9% |
| Larnaca | €590 thousand | Apartment | 14.4% |
| Limassol | €2.6 million | House | 19.7% |
| Nicosia | €1 million | Plot | 18.3% |
| Paphos | €3 million | House | 30.6% |
Source: Department of Lands & Surveys, Analysis: Ask Wire
Pavlos Loizou, CEO of Ask Wire, highlighted the dominance of residential properties in the high-end market trends.
“If we examine the 10 most expensive transactions across Cyprus in April, we see that six of them involve residential properties – four houses and two apartments. Additionally, the most expensive transactions in each district, except Nicosia, also concern residential properties,” Loizou explained.
“This trend is even more pronounced among the 50 most expensive sales – 10 per district – with 38 involving residential properties,” he added.
“Specifically, 29 houses were sold for a total of €19.1 million, and nine apartments were sold for €6.1 million. Overall, Limassol continues to lead in high-value property sales,” Loizou concluded.
With the high value sales how many will have been subject to money laundering. Is their a go to to find out stats regarding those returned to market after Government intervention. If any?. Yours Dave Hill.
There’s no such information available. I wouldn’t be surprised if some of the properties have been repossessed by the banks and then sold.