An apartment block in Limassol’s western suburb of Polemidia sold for €39.3 mln last year, making it the most expensive property deal of 2024, according to a recent market study by Ask Wire.
The island’s leading real estate analytics platform compiled data on the highest-value transactions of the past year and found that the ten most expensive sales in 2024 amounted to €210.1 mln, of which eight were in Limassol, with a total value of €176.8 mln. The remaining two transactions were in Nicosia and Paphos.
The 50 highest value property transactions in 2024 had a total value of €386.2 mln. Of these, 51.7% were the top ten most expensive properties, all located in Limassol. Nicosia followed with 17.5%, and Paphos ranked third with 16.3%.
Specifically, the top ten sales in value in Limassol district totaled €199.7 mln, followed by Nicosia (€67.8 mln), Paphos (€62.8 mln), Larnaca (€37.8 mln) and Famagusta district (€18.1 mln).
“2024 was a dynamic year for Cyprus’ real estate market, with high-value transactions surging by 35% compared to 2023. Limassol, Nicosia, and Paphos led the way, offsetting a slowdown in Larnaca and Famagusta,” said Pavlos Loizou, CEO of Ask Wire.
Loizou added that four major office deals totaled €88.2 mln — 42% of the top 10 transactions — highlighting strong demand for high-value commercial assets.
“The prominence of large-scale residential and commercial developments signals that, despite economic shifts, prime properties remain in high demand. With 2025 underway, the data suggests that investors and developers are doubling down on strategic locations and asset types that offer long-term value,” Pavlos Loizou concluded.
Top 10 most expensive property sales of 2024 (Ask Wire)
| Property Type | Sale Price | District | Municipality – Community | |
| 1 | Apartment Development | €39.3mln | Limassol | Polemidia – Archangelos Michael |
| 2 | Offices | €28mln | Limassol | Amathus – Potamos Germasogeias |
| 3 | Offices | €24.8mln | Limassol | Limassol – Agios Spyridonas |
| 4 | Offices | €19mln | Nicosia | Agioi Omologites |
| 5 | Apartment Complex | €18.4mln | Limassol | Amathus Municipality – Mouttagiaka |
| 6 | Commercial Development | €17.7mln | Limassol | Apostolos Andreas |
| 7 | Plot | €17.2mln | Limassol | Zakaki |
| 8 | Offices | €16.4mln | Limassol | Mesa Geitonia – Timios Prodromos |
| 9 | Restaurant | €15mln | Limassol | Pentakomo |
| 10 | Tourist Development | €14.3mln | Paphos | Kato Paphos |
Source: Cyprus Land Registry, analysis by Ask Wire
Top 10 most expensive sales per district
| District | Total Transaction Value | Share of Total (%) |
| Famagusta | €18.1 mln | 4.7% |
| Larnaca | €37.8 mln | 9.8% |
| Limassol | €199.7 mln | 51.7% |
| Nicosia | €67.8 mln | 17.5% |
| Paphos | €62.8 mln | 16.3% |
| Nationwide | €386.2 mln | 100% |
Source: Cyprus Land Registry, Analysis by Ask Wire
Highest-value transaction per district
| District | Highest Transaction Value | Property Type | Share of District’s Top 10 Sales (%) |
| Famagusta | €4.2 mln | Hotel | 23.2% |
| Larnaca | €9 mln | Field | 23.8% |
| Limassol | €39.3 mln | Apartment Development | 19.7% |
| Nicosia | €19 mln | Offices | 28% |
| Paphos | €14.3 mln | Tourist Development | 22.8% |
Source: Cyprus Land Registry, Analysis by Ask Wire
December’s top 10 sales
In addition to the top ten high-value transactions of 2024, Ask Wire also published data on the ten most expensive property sales completed in December 2024.
Limassol once again led the rankings with six sales, followed by Nicosia and Larnaca with two each. The total value of the top ten sales in December amounted to €58 mln, with the highest-value sale being an office property in Agioi Omologites, Nicosia, sold for €19 mln.
The total value of the 50 highest-value transactions in December exceeded €90.8 mln.
10 most expensive property sales in December 2024
| # | Property Type | Sale Price | District | Municipality – Community |
| 1 | Offices | €19 mln | Nicosia | Agioi Omologites |
| 2 | Apartment | €8.75mln | Limassol | Pyrgos |
| 3 | Field | €7 mln | Limassol | Moni |
| 4 | Hotel | €6.7 mln | Larnaca | Skala |
| 5 | House | €3.5 mln | Limassol | Agios Tychonas |
| 6 | Commercial Property | €3.4 mln | Larnaca | Skala |
| 7 | House | €2.7 mln | Limassol | Mouttagiaka |
| 8 | Field | €2.4 mln | Limassol | Agia Fyla |
| 9 | Field | €2.3 mln | Nicosia | Strovolos – Chryseleousa |
| 10 | Apartment | €2.3 mln | Limassol | Potamos Germasogeias |
Source: Cyprus Land Registry, Analysis by Ask Wire
