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12° Nicosia,
28 May, 2024
 

Apartment sales in Nicosia dominate in Q2

Insights into future housing trends and land sales

Newsroom

In the second quarter of this year, Nicosia's property market showed a significant preference for apartments, offering insights into future housing trends, according to Ask Wire data. 1,267 properties were sold, amounting to €205 million across four main categories (houses, apartments, land, and plots).

Nicosia witnessed 553 apartment sales, 184 house sales, 312 land transactions, and 218 plot sales. Apartments accounted for €99.7 million in sales, houses €46.5 million, land €20.2 million, and plots €38.6 million.

Of note, nearly six out of ten apartment sales were within the €100,000 to €200,000 price range. Notably, four apartments priced over €1 million were sold in the capital.

Regarding houses, 99 out of 184 sales were in the €100,000 to €300,000 price range, with two exceeding €1 million.

Nicosia also led land sales, representing over a third of total transactions in the second quarter. Six out of ten plots sold were priced between €50,000 and €200,000, with 105 plots ranging from 400 to 600 square meters.

Pavlos Loizou, CEO of Ask Wire, emphasized the importance of analyzing Nicosia's district data, as it offers insights into future property trends, including construction trends in the city and its suburbs.

The Nicosia district also led the country in land sales volume, accounting for over a third of transactions in the second quarter. Many plots sold were sized between 400 and 600 square meters.

[Information from CNA]

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Cyprus  |  realestate  |  economy

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