The ten most expensive property sales across Cyprus in November totalled €20.9 million, with the most expensive being offices in Neapolis, Limassol, which sold for €5.4 million, according to technology driven company Ask Wire.
The list of the 10 most expensive properties is dominated by Limassol district with seven transactions worth a total of €17 million. The top ten is completed by Paphos district with two sales worth a total of €5.1 million and Nicosia with one sale worth €2 million.
The 10 most expensive property sales in November
| Top Ten | Property Type | Location | Price |
|---|---|---|---|
| 1 | Offices | Limassol / Neapolis | €4.1m |
| 2 | Offices | Limassol / Neapolis | €4m |
| 3 | Offices | Paphos / Agios Theodoros | €4m |
| 4 | Land | Limassol / Amathus / Agia Paraskevi | €2.5m |
| 5 | House | Nicosia / Agios Andreas | €2m |
| 6 | House | Limassol / Amathus / Mouttagiaka | €1.9m |
| 7 | Commercial Property | Limassol / Apostolos Andreas | €1.8m |
| 8 | Land | Limassol / Agios Georgios | €1.4m |
| 9 | Apartment | Limassol / Amathus / Potamos Germasogeias | €1.2m |
| 10 | Land | Paphos / Geroskipou / Timi | €1.1m |
Source: Department of Lands and Surveys, Analysis: Ask Wire
The 50 most expensive sales
The fifty most expensive property sales in November totalled €47.3 million compared with the €68.4 million achieved in October.
Commenting on the figures, Pavlos Loizou, CEO of Ask Wire said “The high value real estate market slowed down in November compared to October, with the value of the top 50 transactions dropping by nearly 31%. This decrease was observed across all districts.”
Of the 50 most expensive property sales, 41.6% of the total value came from the 10 properties in the Limassol district, amounting to €19.7 million. 22.8% came from the top 10 properties in Paphos district, which totalled €10.8 million.
Trailing behind are Nicosia, contributing 17.5% (€8.3 million), and Larnaca with 11.8% (€5.6 million). The 10 highest-value transactions in Famagusta amounted to €2.9 million, representing 6.2% of the overall value of these top 50 sales.
High-value property sales in November
The 50 highest-value property sales in November 2024 totalled €47.3 million.
- Limassol: €19.7 million (41.6% of the total)
- Paphos: €10.8 million (22.8%)
- Nicosia: €8.3 million (17.5%)
- Larnaca: €5.6 million (11.8%)
- Famagusta: €2.9 million (6.2%)
November’s most expensive property sales/district
| District | Highest Transaction (€) | Type of Property | Share of District Total (%) |
|---|---|---|---|
| Famagusta | €462,000 | House | 15.9% |
| Larnaca | €800,000 | Field | 14.3% |
| Limassol | €4.1 million | Offices | 20.8% |
| Nicosia | €2 million | House | 24.1% |
| Paphos | €4 million | Offices | 37% |
Source: Department of Lands and Surveys, Analysis: Ask Wire
Market trends
Pavlos Loizou, CEO of Ask Wire, commented on the data, stating:
“The high-value real estate market slowed in November compared to October, with the value of the top 50 transactions dropping by almost 31%. This decline affected all districts. The fact that the top three sales were office spaces highlights the demand in this category, particularly from foreign companies in Limassol and Paphos. Residential properties still dominate high-value sales, with 26 houses and apartments included in the 50 most expensive transactions.”
For more information and insights on the real estate market, visit Ask Wire’s website.
