Cyprus Property Market Analysis Firm Releases February Report
A report outlining the ten largest property transactions completed in February 2024 has been released by Cypriot real estate market analytics firm Ask Wire. The data provides valuable insights into the state of the local property market.
Key Findings of the Report
- The total value of the top 50 property transactions in February exceeded €55 million.
- The most expensive transaction was the sale of a plot of land in the Paphos district for €4.8 million.
- The top five transactions included five deals in Paphos, four in Limassol, and one in Nicosia.
- Paphos and Limassol together accounted for over 63% of the total value of all transactions.
- The top ten most expensive properties in the Paphos district were sold for €17.5 million, in Limassol for €17.4 million, and in Nicosia for €9.4 million.
- The lowest value of transactions in February was recorded in Larnaca and Famagusta, at €7 million and €3.7 million respectively.
Market Trends and Analysis
The report notes that there was an increase in property transactions in February compared to January. It also highlights the strength of the Paphos property market, which continues to outperform other districts in terms of total sales value.
