In a solid performance for Cyprus’ property market this March, Nicosia has claimed the spotlight with the country’s most expensive real estate transaction – a €29.3 million office building sale in the central area of Agioi Omologites.
The sale was reported by property analytics firm Ask Wire, and underscores the capital’s growing dominance in high-value property deals.
According to the firm’s data, the top 10 property transactions across Cyprus in March amounted to €56.5 million. Nicosia, Limassol, and Larnaca led the charge, with Nicosia and Limassol each recording three high-value sales, and Larnaca slightly ahead with four.
Zooming out, the 50 highest-value transactions across all districts collectively reached €92.7 million for the month. Nicosia alone accounted for nearly half that total – €45.5 million – marking a 49% share and cementing its place at the top of the market.
Larnaca followed with €17.4 million in sales among its 10 priciest properties, representing 18.8% of the nationwide top 50, while Limassol trailed with €16.2 million or 17.5%. This is a notable shift in rankings, as Limassol – typically a front-runner – was surpassed by both Nicosia and Larnaca.
“In March, perhaps for the first time, Limassol ranked behind two districts – Nicosia and Larnaca – in transaction value, with only three properties in the top 10 most expensive sales of the month,” said Pavlos Loizou, CEO of Ask Wire.
Meanwhile, Paphos saw a noticeable dip, with its top 10 sales totalling €7.1 million (7.7% of the total), only slightly ahead of the free Famagusta area, which recorded €6.5 million (7%).
Residential properties dominated the high-end market, making up 27 of the 50 most expensive transactions. Land sales also featured strongly, with 14 transactions, five of which ranked among the top 10 most valuable deals of the month.
Overall, March’s top-tier property sales were up 43% compared to February 2025 – highlighting a surge in investor confidence and a dynamic shift in district-level market leadership.
