The greatest interest of buyers is focused on apartments worth €100,000 – €500,000 according to an analysis by Ask Wire
Limassol collected 34.6% of the volume and 46.7% of the value of field sales throughout Cyprus.
Properties worth almost half a billion were sold in the 2nd quarter of 2023 in the province of Limassol. According to an analysis by Ask Wire, a total of 1,383 properties were sold, pertaining to the four main categories (houses, apartments, plots and fields) worth €437.9 million. in the city and in the province of Limassol 499 apartments, 271 houses, 430 fields and 183 plots. The value of the apartments sold reached €197.2 million, the houses €115.8 million, the fields €75.5 million and the plots €49.35 million.
Apartments
Limassol gathers 26.6% of the volume of apartment sales in Cyprus. The greatest interest of buyers in the Limassol district is focused on apartments worth €100,000 – €500,000 as eight out of ten apartments were sold at these prices. In particular, 29.9% of sales concerned apartments worth €100,000 – €200,000, 27.9% apartments worth €200,000 – €300,000 and 24.4% apartments worth €300,000 – €500,000. 29 apartments worth more than €1 million were sold in Limassol. The most expensive apartment was sold for €10.3 million
|
APARTMENT SALES Most house sales involved values of €300,000 – €500,000
LIMESOS |
2ndth Quarter 2023 |
€0- €100 thousand |
€100-€300 thousand |
€300-€500 thousand |
€500-€999 thousand . |
€1-€2 million |
€2 million+ |
TOTAL |
|
Volume |
22 |
288 |
122 |
38 |
19 |
10 |
499 |
|
|
Value |
€1.6 million |
€59.2 million |
€46.3 million |
€26.3 million |
€26.5 million |
€37.1 million |
€197.2 million |
Ask Analysis Wire
Houses
Most house sales in the Limassol district concerned values of €300,000 – €500,000. At these prices, 78 houses were sold, corresponding to 28.8% of the total. 15 houses were sold for values over €1 million, with the most expensive being sold for €10 million. The purchase of houses in the Limassol district in the 2nd quarter of the year corresponds to 26.9% of the total volume of sales in Cyprus and to 35.8% of value.
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HOUSE SALES HOUSES
LIMESOS |
2< /strong>th Quarter 2023 |
€0- €100 thousand |
€100-€300 thousand |
€300-€500 thousand |
€500-€999 thousand < /td> |
€1-€2 million |
€2 million + |
TOTAL |
|
Volume |
24 |
99 |
78 |
48 |
11 |
4 |
271 |
|
|
Value |
€1.5 m. |
€21 m. |
€29.1 million |
€32 .6 million |
€14.3 million |
€17.3 million |
€115.8 million |
Ask Wire Analysis
Fields
Almost seven out of ten plots sold in the second quarter of 2023 in the Limassol district were worth up to €50,000, while most of them (242 plots/lots) were sold at prices below €25,000. In the analysis of sales based on area, it appears that ¼ of the sales correspond to fields up to 1000 square meters. A total of 68 fields were larger than 10,000 square meters. Limassol collected 34.6% of the volume and 46.7% of the value of Pangypria field sales.
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FIELD SALES
LIMESO |
< p2o Quarter 2023 |
€0- < p>€25 thousand |
€25-€50 thousand |
€50-€100 thousand |
€100-€200 thousand |
€200-€300 thousand< /strong> |
€300 -999 thousand |
€1-€2 million |
€2 million+ |
TOTAL |
|
Volume |
242 |
45 |
48 |
29 |
19 |
34 |
9 |
4 |
430 |
|
|
Value |
€2.1 million |
€1.7 million |
€3.5 million |
€4.2 million |
€4.7 million |
€19.2 million |
€13.5 million |
€26.4 million |
€75.5 million |
Ask Wire Analysis
Plots
The province of Limassol gathers 28.7% of the volume and 38.6% of the value of plots sold all over Cyprus during the second quarter of the year. One in two plots sold was worth €50,000 – €200,000, while the most expensive plot was sold for €5.9 million. In Limassol, 51 plots of land over 1000 square meters were sold, a number that corresponds to 27.9% of the total.
|
PLOT SALES
LIMESO |
< p>2th Quarter 2023 |
€0- €50 thousand |
€100-€200 thousand |
€200- €300 thousand |
€300-€500 thousand |
< p>€500 thousand-1 million |
€1 million+ |
TOTAL |
|
Volume |
26 |
49 |
44 |
21 |
19 |
19 < /p> |
5 |
183 |
|
Value |
€834 thousand |
€4.1 million |
€6.2 million |
€5.1 million |
€7 .6 million |
€13.2 million |
< p>€12.2 million |
€49.35 million |
Ask Wire Analysis
Pavlos Loizou, CEO of Ask Wire, commenting on the above data stated that “From the analysis of the data concerning the Limassol district it is confirmed its diversity compared to the other provinces of the free Cyprus and at the same time its importance for the real estate market and the country's economy. At the same time, the increased cost of buying a property is clearly visible as the city functions as a business center hosting dozens of foreign companies with thousands of employees. It is characteristic that many apartments and houses are sold at prices over a million.”
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