A €4,8 million mixed-use building in Paralimni topped the list of the 10 most expensive property transactions in November, according to data compiled by Ask Wire.
According to the data, the 50 largest transactions, ten per province, in November were worth a total of €52 million.
The 10 most expensive sales totaled €22 million and the most expensive sale concerned a mixed-use building in Paralimni with a price of €4,8 million. The district of Limassol counts four transactions in the top ten sales, which is completed by Nicosia with three, the Larnaca and Famagusta in one. The value of these transactions in the province of Limassol amounted to €9,56 million, in Nicosia to €4,23 million, in Larnaca to €3,4 million and in the province of Famagusta to €4,8 million.
By province, the most expensive sale was in Famagusta with the mixed development building worth €4,8 million, which corresponded to 57% of all transactions in the province, in Limassol an apartment worth €3 million, which corresponded to 20% of the of total transactions in the province, in Larnaca the most expensive sale was a plot worth €1,8 million with 18,5% of the transactions in the province, while in Nicosia the most expensive sale involved an apartment building worth €1,5 million 13% of total transactions. In Paphos, the most expensive transaction concerned inexhaustible development rights worth €1,2 million, which corresponded to 17% of transactions in the province.
It is noted that the ten most expensive properties in Limassol were sold for €15 million and correspond to 28,8% of the total transactions in the country and the ten properties in Nicosia for €11,6 million at 22,3%. Of lesser value (€9,7 million) are the ten most expensive properties sold in November in the province of Larnaca, closely followed by the provinces of Famagusta (€8,4 million) and Paphos (€7,2 million) .).
Commenting on the data, Pavlos Loizou, CEO of Ask Wire, stated that “from the analysis it is clear that in November there was movement in the high value real estate market. Of the 50 largest sales in Cyprus, 19 involved properties worth more than €1 million, six sales were made at prices of €900.000 – €999.000, three at prices of €800.000 – €899.000 and another five sales at prices of €700.000 – €799.000” .
Source: KYPE