Ask Wire analysed the 50 highest-value property sales completed between January and March, as well as their distribution across Cyprus’ districts. 

The 10 largest transactions alone reached €83.9m, with the most expensive sale involving a building and six adjacent fields in Moni, in the Limassol district, which changed hands for €19.7m. Among the top 10 deals, Paphos accounted for five transactions, followed by Limassol with four and Larnaca with one, pointing to the continued strength of coastal districts in attracting large-scale property investment. At the same time, the broader ranking showed an even stronger concentration in Limassol. The district accounted for 29 of the 50 most expensive transactions, with a combined value of €107.2m. Paphos followed with 17 transactions worth €71.8m. The district also stood out for the diversity of its transactions. Beyond land deals, Paphos recorded the most expensive residential property sales nationwide, including a villa in Peyia sold for €6.3m and a house in Ayios Theodoros, Paphos, sold for €5.8m. Elsewhere, Larnaca appeared among the top 50 with one transaction worth €9m, while Nicosia recorded two transactions totalling €7.5m. Famagusta was represented by one transaction valued at €2.2m. 

Commenting on the findings, Ask Wire CEO Pavlos Loizou said that “one of the most significant findings emerging from our analysis is the strong momentum in the land market.” He explained that “when six of the 10 most expensive transactions of the first quarter involve fields and plots, this indicates that the market is either preparing for or is certain for a new development cycle.” Loizou also said that the pattern was visible across the island, as “the most expensive transaction in every district of Cyprus involved either a field or a plot, a €19.7m field in Limassol, a €9.5m field in Paphos, a €5.5m plot in Nicosia, a €9m plot in Larnaca, and a €2.2m field in Famagusta.” “The first-quarter data provides a useful benchmark for Cyprus’ high-end property market during a period of heightened geopolitical uncertainty,” Loizou said. 

He added that “monitoring transaction activity throughout the year will help assess whether, and to what extent, developments in the region influence demand, liquidity, and investment decisions.” 

Source: Cyprus Mail