Limassol continued to dominate the Cyprus high-end property market in October, according to real estate analytics firm Ask Wire.
The district recorded four of the ten most expensive property sales, including the most expensive sale in the month – a €9.9 million mixed-use building in the Panagia Evangelistria area of Kato Polemidia.
District breakdown of top transactions
Ask Wire’s analysis revealed that Limassol district secured the largest share of October’s top property sales, contributing €16.7 million from the ten highest-value transactions.
Other districts’ contributions included:
- Paphos: €8.7 million from two major deals.
- Larnaca: €4.65 million.
- Famagusta: €2.5 million.
- Nicosia: €2.1 million.
The 50 most expensive property sales across Cyprus in October totalled €68.4 million, with Limassol accounting for 37.4% (€25.6 million). Paphos followed at 24.6% (€16.8 million), while Nicosia, Larnaca, and Famagusta contributed 15.6% (€10.7 million), 14% (€9.6 million), and 8.4% (€5.7 million), respectively.
Notable high-value sales
The distribution of top transactions showcased regional trends in property demand:
- Limassol: The €9.9 million sale of a mixed-use building represented 59.3% of the district’s total top 10 sales.
- Paphos: A €4.15 million residence in Kouklia accounted for 47.7% of the district’s total.
- Nicosia: An apartment building in Dali sold for €2.96 million, comprising 72.8% of its district total.
- Larnaca: A €1.8 million field in Voroklini represented 38.7% of sales.
- Famagusta: Its highest transaction, a €530,000 field, made up 9.3% of the district’s total.
Market insights
Pavlos Loizou, CEO of Ask Wire, highlighted the strength of Cyprus’ private real estate sector, noting that over 90% of the top 50 transactions (totalling €62.4 million) occurred in the open market, driven by private demand.
“Bank restructuring sales accounted for just 8.8%, showcasing a vibrant, buyer-driven market,” Loizou said.
He added that properties priced between €500,000 and €5 million reflect Cyprus’ dual appeal as a residential and holiday destination.
Emerging trends
Loizou pointed to growing interest in development land in Larnaca and Paphos, alongside sustained demand for commercial and mixed-use properties in urban hubs like Limassol and Nicosia.
The data underscores Limassol’s role as the epicentre of Cyprus’ luxury property market, while other districts show increasing momentum in specific property types.
