New data from Landbank Analytics has mapped the highest-demand residential areas across Cyprus’s districts for the period January to September 2024, based on analysis of sale contracts filed with the Department of Lands and Surveys.
“Our analysis aims to capture the island-wide interest in residential properties and track which areas are gaining or losing momentum”, said Landbank Group CEO Andreas Christoforides.
“While house prices remain important, buyers consider multiple factors. We’re seeing strong interest in city suburbs for houses and city centres for apartments, where values are highest. This decentralisation trend is not surprising”, he added.
In Nicosia district, there were 161 house sales totalling €49.8m and 1,194 apartment sales worth €236.9m. Lakatamia led house sales with 45 transactions averaging €347,000, while Strovolos topped apartment sales with 225 units averaging €202,000.
Limassol district recorded 237 house sales worth €165m and 1,469 apartment sales totalling €820m. Ypsonas saw the most house transactions with 31 sales averaging €346,000, while Limassol city dominated apartment sales with 557 units averaging €471,000.
Larnaca district registered 191 house sales worth €64.35m and 1,113 apartment sales totalling €218.8m.
Aradippou led house sales with 53 transactions averaging €291,000, while Larnaca city saw the highest apartment activity with 413 sales averaging €214,000.
Paphos district saw 243 house sales worth €149.6m and 416 apartment sales totalling €138.4m. Geroskipou led house sales with 44 transactions averaging €543,000, while Paphos city dominated apartment sales with 313 units averaging €336,000.
In free Famagusta district, there were 86 house sales worth €28.6m and 143 apartment sales totalling €32.8m. Paralimni dominated both categories with 50 house sales averaging €412,000 and 105 apartment sales averaging €262,000.
Source: Philenews