In the second quarter of 2024, 489 apartments and 110 houses were sold in Cyprus

According to the Cyprus Real Estate Registration Board (SEK), 489 apartments and 110 houses were sold in the country during the second quarter of 2024. There has been a notable increase in developers' interest in land suitable for residential and commercial construction on the island of Aphrodite. From April to June, 666 plots with building permits and 1501 plots without permits yet were sold.

APARTMENTS

During the second quarter, there were 489 apartment sales. Nicosia and its surrounding villages lead in sales volume, while the highest average price for apartments was recorded in Limassol. Sales and average prices (in euros) by city:

• Nicosia: 179 apartments - average €134,031
• Larnaca: 113 apartments - average €133,058
• Limassol: 84 apartments - average €248,919
• Paphos: 71 apartments - average €122,846
• Famagusta: 42 apartments - average €109,804

HOUSES

From April to June 2024, 110 houses were sold. Famagusta's free areas (Ayia Napa, Paralimni, Protaras) led in sales, while the most expensive houses were sold in Paphos.

• Famagusta: 35 houses - average €273,028
• Paphos: 31 houses - average €398,857
• Limassol: 24 houses - average €362,429
• Larnaca: 20 houses - average €205,035

LAND PLOTS WITH BUILDING PERMISSION

Nicosia was the sales leader this quarter, with the highest prices paid for plots in Paphos.

• Nicosia: 273 plots - average €198,737
• Limassol: 154 plots - average €260,613
• Larnaca: 140 plots - average €173,220
• Paphos: 69 plots - average €265,884
• Famagusta: 30 plots - average €151,103

LAND PLOTS WITHOUT BUILDING PERMISSION

The best-selling items across the real estate sector were plots yet to have building permissions. Nicosia led in numbers, but Paphos had the highest prices.

• Nicosia: 435 plots - average €104,752
• Limassol: 417 plots - average €135,392
• Larnaca: 309 plots - average €96,255
• Paphos: 207 plots - average €170,873
• Famagusta: 133 plots - average €144,359