Cyprus apartment sales €154m in Q4 2023

Cyprus apartment sales €154m in Q4 2023

In Q4 of 2023, two-bedroom apartments were the main attraction for buyers in Cyprus, according to Ask Wire‘s findings, which emerge from continuous monitoring of the development of 421 high-end projects across Cyprus.

Throughout the last quarter of that year, a total of 240 sales was completed, amounting to €154 million in value.

Specifically, in October, 89 transactions worth €49.6 million were completed, followed by 106 transactions in November, valued at €76.9 million, and then 45 transactions in December, totalling €27.2 million.

These sales corresponded to 240 residential apartment units. Regarding the pricing details, the average sale price per square meter for transactions involving one-bedroom apartments was €2,749, while for two-bedroom apartments it was slightly higher at €2,804.

Furthermore, the average price per square meter increased to €4,293 for transactions involving three-bedroom apartments and soared to €15,716 for sales of four-bedroom apartments.

Delving deeper, Ask Wire’s findings provide insider information on the prevailing or declining trends in the Cypriot real estate market.

In addition to basic trends, the company also provides detailed data on the number of bedrooms of residential units for sale, floor level, average price per square meter, specifications, and other useful information that enables the tracking of new projects by unit, developer area, and more.

Looking ahead to the figures for the 206 high-end apartments sold in Q4 of 2024, the data is equally indicative:

– One-bedroom apartments: The total value of the 43 apartments reached €13 million with their average selling price estimated at €247,900.

– Two-bedroom apartments: There were 104 sales of two-bedroom apartments. Their total value amounted to €56 million, with an average price of €286,000.

– Three-bedroom apartments: Additionally, 59 three-bedroom apartments were sold, totalling a value of €45 million, with an average selling price of €535,600.

Commenting on the  data, the CEO of Ask Wire, Pavlos Loizou, said, “It is a tool that irradiates the market and provides investors and developers with the information they dreamed of having. Among other things, they can monitor the competition, identify fluctuations in demand and supply, pinpoint areas of interest, shape their prices, and focus their marketing strategies on the right audiences.” (cyprus-mail)

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