Limassol’s Real Estate Market Surges to Nearly Half a Billion Euros in Q2 2023

The Limassol real estate market in Cyprus continues to shine, with a recent report from Cypriot firm Ask Wire revealing that sales in the region surged to nearly half a billion euros during the second quarter of 2023. This remarkable feat underscores Limassol’s status as a real estate powerhouse, attracting both local and international investors. 

Apartments Reign Supreme 

One of the standout findings in the report is the significant buyer interest in apartments valued between €100,000 and €500,000. The majority of home sales in Limassol fall in the €300,000 to €500,000 range, indicating a strong demand for quality living spaces in this price bracket. 

Limassol Leads the Way 

Limassol, renowned for its vibrant real estate market, accounted for 34.6% of the total sales volume in Cyprus during the second quarter of 2023. Impressively, it also claimed an imposing 46.7% of the total sales value for land across the island during the same period. 

The Numbers Tell the Story 

A total of 1,383 properties, spanning various categories such as houses, apartments, land, and fields, changed hands during this dynamic period, amounting to a staggering €437.9 million in sales. Limassol’s housing market represented 26.9% of the country’s total sales volume and 35.8% of the total sales value. 

Key Takeaways 

  • Limassol is a key player in Cyprus, capturing 26.6% of the country’s apartment sales volume. 
  • The majority of buyers in the Limassol district showed a strong interest in apartments priced between €100,000 and €500,000, with a remarkable 80% of such apartments finding new owners within this price range. 
  • Most home sales in the Limassol district revolved around properties valued between €300,000 and €500,000, accounting for 28.8% of total sales. 
  • Fields priced below €50,000 constituted a significant portion of sales in the Limassol district, with nearly seven out of ten fields selling in this price range. 
  • Limassol’s dominance extends to the plot sales market, contributing 28.7% of the sales volume and 38.6% of the sales value recorded across Cyprus during Q2 2023. 

These figures highlight the continued growth and appeal of the Limassol real estate market in Cyprus, attracting both local and international investors looking for a diverse range of property options. As Limassol maintains its position as a real estate hotbed, it promises exciting opportunities for those seeking to invest in this flourishing market.  

Source Cyprus Mail 

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