Ask Wire News Today

Paphos and Limassol dominate top 10 property sales in February according to Cypriot real estate market analytics firm Ask Wire.

Ask Wire has released a report on the ten most expensive property transactions in Cyprus for January 2024.

Across Cyprus, on an annual basis, prices increased by 8.8% for apartments, 3.0% for houses, while rental values remained stable.

Limassol dominated the Cyprus property market in 2023 boasting nine out of the ten most expensive deals over the year.

Ask Wire CEO predicts that the price of high-end homes will fall in the coming months due to oversupply and a fall in foreign interest

The overall value of the 50 most expensive properties sold in November reached €52 million, 51 per cent of which were in Limassol & Nicosia.

The Nicosia district saw residential sales totalling €118.8 million during the third quarter, according to a report released by Ask Wire.

While Cyprus property values are broadly stable, demand for residential properties is expected to decrease in the fourth quarter of 2023.

The Cyprus real estate sector is unsure how recent developments in the Middle East will affect the immediate future of the property market.

Paphos property sales valued in excess €190 million were achieved during the second quarter of 2023, according to a report firm Ask Wire