The Cypriot property market has been buzzing with activity recently. According to a report released by Cypriot fintech Ask Wire, the fifty most valuable real estate transactions amounted to an impressive combined value of €79 million. Here are the top highlights of the market’s most coveted properties.
Ask Wire, a pioneering company that combines real estate expertise with cutting-edge technology, compiled the data on the ten most expensive property transactions for the month. Among these, a commercial property in Limassol secured the spotlight as the most expensive sale, valued at an impressive €12 million.
The report further revealed interesting insights into the distribution of valuable properties across the different districts of Cyprus. Larnaca district took the lead with four transactions valued at a total of €13.75 million. Meanwhile, Famagusta district contributed two notable sales, including a hotel and a complex of hotel apartments in Paralimni, together valued at €5.38 million.
Other districts such as Paphos and Nicosia also made their mark on the list with one transaction each.
Almost 60% of the total transaction value was attributed to the properties in Limassol and Larnaca. The top ten properties in Limassol fetched a staggering total of €25.65 million, accounting for an impressive 32% of the combined value. Larnaca followed closely behind with its top ten properties selling for a total of €19.7 million, representing a remarkable 25% of the total value.
Nicosia’s top ten properties garnered a combined value of €13.45 million, followed by Paphos with €11.8 million and Famagusta with €8.5 million.
The Cypriot property market’s top fifty transactions in June 2023 showcased the diversity and vibrancy of the real estate landscape. With Limassol and Larnaca districts leading the way, and notable contributions from other regions, the market continues to attract significant investments. These valuable transactions reflect the increasing demand for Cypriot real estate and promise an exciting future for the country’s property sector.
Source: Cyprus Mail