Top 10 Most Expensive Real Estate Deals in Cyprus in the First Half of 2024

In the first half of 2024, the total value of the top 10 most expensive real estate deals in the Republic of Cyprus amounted to €144.9 million. According to Ask Wire, a company specializing in real estate valuation and analytics, the largest transaction of the first half of the year was the sale of an office building near the riverbed in Germasogeia (Limassol) for €28 million.

Limassol emerged as the leader in sales of the most expensive properties in Cyprus, with seven out of the top ten properties in the ranking changing owners. Their total value reached €116.5 million. From January to June 2024, two of the top ten most expensive properties were sold in Nicosia, and one in Larnaca. Paphos and the free territories of Famagusta (Ayia Napa, Paralimni, Protaras) did not make it into the ranking.

Top 10 Most Expensive Real Estate Transactions

From January to June 2024

• Office building — €28 million (Limassol / Germasogeia)
• Apartment — €18.4 million (Limassol / Amathunda)
• Commercial property — €17.65 million (Limassol)
• Offices — €16.4 million (Limassol / Mesa Geitonia)
• Restaurant — €15 million (Limassol / Pentakomo)
• Multipurpose building — €12.9 million (Limassol / Agias Zonis)
• Building (offices + commercial spaces) — €9.7 million (Nicosia / Ayi Omoloyites)
• Outlet store — €9.6 million (Nicosia / Kokkinotrimithia)
• Plot of land — €9 million (Larnaca / Livadia)
• Mixed-use building — €8.1 million (Limassol / Tsiflikoudia)

Analysts at Ask Wire studied the top 50 most expensive real estate transactions in each region of the Republic of Cyprus. Limassol remained the leader, with a total value of properties sold in the first half of the year amounting to €135.3 million. Paphos ranked second with €48.4 million. Nicosia completed the top three with €41 million. Following the capital were Larnaca (€28.6 million) and the free territories of Famagusta (€14.2 million).

In June 2024, the most expensive property — a building with offices and retail spaces — was sold in Nicosia. Larnaca emerged as the leader of the month, with five of its properties included in the top 10 most expensive June sales.