According to the data of market intelligence company Ask WiRE the total value of 50 most expensive deals in June has totaled €79 million. The first 10 deals have brought €39 million revenue to their owners.
Top ten most expensive property sales in June 2023
1. Commercial Property – €12 million in Limassol (Limassol Municipality)
2. Land – €5.4 million in Larnaca (Mazotos)
3. Plot – €3.65 million in Larnaca (Pervolia)
4. Land – €3.3 million in Paphos (Pegeia)
5. Hotel – €3.28 million in Famagusta (Paralimni)
6. Land – €2.5 million in Larnaca (Livadia)
7. Mixed-use building – €2.32 million in Nicosia (Lakatamia)
8. Offices – €2.3 million in Limassol (Limassol Municipality)
9. Land – €2.2 million in Larnaca (Larnaca Municipality)
10. Tourist apartments – €2.1 million in Famagusta (Paralimni)
Nearly 60% out of 50 most expensive properties have been sold in Limassol and Larnaca districts. Limassol properties have brought the revenue €25.65 million (32%) and Larnaca real estate was sold for €19.7 million (25%.)
The ten most expensive properties sold in Nicosia district had a significantly lower total value of €13.45 million, followed by Paphos (€11.8 million) and Famagusta (€8.5 million).
Total value of top ten sales/district
• Limassol – €25.65 million (32%)
• Larnaca – €19.7 million (25%)
• Nicosia – €13.45 million (17%)
• Paphos – €11.8 million (15%)
• Famagusta – €8.48 million (11%)
Commenting on figures Pavlos Loizou, the CEO of Ask WiRE, said: “The analysis demonstrates the depth of the high-value property market in each province, revealing that the market is mainly driven by properties of lower value. Specifically, out of the 50 largest sales, 20 were below €1 million. This indicates that any investment evaluation should consider not only the value but also the geography, type, and depth of the market, enabling investors to assess the liquidity of their investments.” Data source: Department of Lands & Surveys
