ASK Wire: Second floor apartments preferred in Cyprus capital

From January 2016 to July 2024, 72 multi-story residential buildings were constructed or under construction in Nicosia by 38 developers. In these, 568 apartments were sold. According to real estate analytics firm Ask Wire, second-floor apartments are the most popular in Cyprus's capital, as third-floor ones are more expensive.

In these 72 buildings, 144 second-floor apartments were sold, with an average price per square meter at €2,289. An 85 sq meter apartment, for example, costs around €195,000.

First-floor apartments are the second choice with 133 sold, priced at €2,199 per square meter, costing €187,000 for a standard apartment.

Third-floor ones, with 111 sold, are at €2,340 per square meter, totaling €200,000 for a standard unit.

Fourth-floor had 56 sales, fifth 22, sixth and seventh 12 each, and eighth 13. The highest per square meter price was €7,075 for a 19th-floor apartment and the lowest was €2,133 on the ground floor.

"Our detailed analysis uncovers significant trends in Nicosia's real estate market," explains Ask Wire CEO Pavlos Loizou. "This analysis assists developers in making better business plans by understanding market trends and competitor actions."