The areas with the highest demand for housing per province during the period January - September 2024 were mapped by the Landbank Analytics platform, which processes and analyzes the sales documents, which were filed in the first nine months of the year at the Department of Land Registry and Surveying.

The CEO of the Landbank Group, Andreas Christoforidis, stated: “By analyzing the data, we attempt to capture the interest that exists for the residential property market throughout Cyprus and the dynamics that certain areas develop or lose. Our goal is to record the areas to which people are heading and why. As a general observation, we would say that the price of a house or apartment is not the only criterion that buyers take into account. Buying interest is directed to the suburbs of cities for houses and to the city centers where we also have the highest values ​​for apartments. Certainly, decentralization is not something that surprises us. The analysis identifies the areas that are likely to record increased demand and increase prices, making them interesting for both home ownership and investment purposes.

Nicosia

In the Nicosia district, 161 house sales were recorded in the first nine months of the year with a total value of €49.8 million and 1,194 apartment sales with a total value of €236.9 million.

Most house sales were made in Lakatamia (45) and their average value was €347,000. In Geri and Tseri, 44 houses were sold (22 in each area) with an average value of €358,000 and €237,000 respectively. In Dali, 18 houses were sold with an average value of €276,000 and in Latsia, 15 houses were sold with an average value of €342,000.

As for apartments, the largest volume of sales in the first nine months of 2024 is located in six areas. Specifically, 225 apartments were sold in Strovolos with an average value of €202,000, in Lakatamia 194 apartments were sold with an average value of €163,000, in Aglantzia 188 apartments with an average value of €142,000, in Nicosia 166 apartments with an average value of €324,000, in Engomi 150 apartments with an average value of €182,000 and in Latsia 117 apartments with an average value of €172,000.

Hot Spots by value: Based on the total value of house sales, Lakatamia takes first place, with sales of €15.6 million, and in apartments, Nicosia with sales of €53.8 million.

Limassol

In the Limassol district, 237 house sales were recorded in the first nine months, with a total value of €165 million and 1,469 apartment sales with a total value of €820 million.

Most house sales were made in Ypsonas (31) and their average value was €346,000. In Agios Tychonas, 22 houses were sold with an average value of €818,000, in Parekklisia 21 houses with an average value of €519,000, while the same number of sales (20 per area) were made in Kolossi and Agios Athanasios with average values ​​of €307,000 and €627,000 respectively. This is followed by Erimi with 18 house sales with an average value of €359,000 and the Tserkezoi area of ​​Limassol with 17 sales with an average value of €1.7 million.

The largest volume of apartment sales is concentrated in three areas. These are the city of Limassol where 557 apartments were sold with an average value of €471,000, Germasogeia where 247 apartments were sold with an average value of €706,000 and Agios Athanasios where 133 sales were completed with an average value of €342,000.

Hot Spots by value: Limassol (Tserkezoi) takes the lead in the total value of house sales, as it exceeded €28.6 million. as well as in apartment sales where it reached €262.4 million.

Larnaca

In the Larnaca district, 191 house sales were recorded in the first nine months, with a total value of €64.35 million and 1,113 apartment sales with a total value of €218.8 million.

The greatest interest in houses is found in four areas of the Larnaca district. Most of them (53) were in Aradippou and their average value was €291,000. This is followed by Livadia with 27 house sales with an average value of €444,000, Kiti with 24 sales with an average value of €280,000 and Pyla with 32 house sales with an average value of €375,000.

Unlike houses, where interest is concentrated in the suburbs, the largest volume of apartment sales is concentrated in the city of Larnaca, which counts 413 sales with an average value of €214,000. This is followed by Livadia with 226 apartment sales with an average value of €199,000, Aradippou with 214 sales with an average value of €180,000 and Pyla with 144 sales with an average value of €203,000.

Hot Spots by value: Aradippou takes first place in the total value of house sales, as it exceeded €15.4 million in the nine-month period, and Larnaca for apartments, which reached €88.5 million.

Paphos

In the Paphos district, 243 house sales were recorded with a total value of €149.6 million and 416 apartment sales with a total value of €138.4 million.

Seven areas stand out on the map of house sales in the Paphos district. Most sales were made in Geroskipou (44) and their average value was €543,000. Peyia follows with 36 sales with an average value of €658,000 and Chloraka with 35 sales with an average value of €520,000. Out of 26 house sales, Paphos and Konya count with an average value of €1 million and €557,000 respectively. A total of 22 sales with an average value of €501,000 were recorded in Kissonerga and another 20 sales with an average value of €363,000 in Emba.

As for apartments, a large concentration was recorded in the city of Paphos. A total of 313 apartments were sold and their average value was €336,000.

Hot Spots by value: Based on the total value of house sales, Paphos takes the lead, which exceeded €26.7 million in the nine-month period, as well as the total value of apartment sales, where it exceeded €105 million.

Famagusta

In the free province of Famagusta, 86 house sales were recorded in the period January - September of this year, with a total value of €28.6 million and 143 apartment sales with a total value of €32.8 million.

The largest volume of sales of both houses (50) and apartments (105) took place in Paralimni. The average value of houses was €412,000 and of apartments €262,000.

O Phileleftheros 14 Feb 2025