Larnaca property sales hit €3bn in last 5 years!

Jan 5, 2022 | Latest News

The majority of property sales took place in Larnaca municipality, where transactions reached €1.1 billion in value, representing 30% of the entire district. 

Larnaca, Aradippou and Livadia, property sales exceeded €1.6 billion in value, while 9,600 transactions took place. According to the report, the total amount of property sales across Cyprus over the past five years approached €25 billion, with more than 100,000 transactions taking place. 

In Larnaca municipality, the aforementioned amount of €1.1 billion in property sales was generated from 6,000 transactions over the past five years.  

The majority of sales in the municipality took place in 2019 while the lion’s share of transactions involved properties with a price of €225,000. The most expensive property sale in Larnaca municipality during this time was valued at €13.2 million. 

“As was the conclusion with municipalities in other districts, the majority of transactions in Larnaca municipality involved apartments, while in the municipalities of Aradippou and Livadia they concerned house sales,” 

In Larnaca municipality, 4,083 apartments were sold for a total value of €604 million, while in Aradippou and Livadia those figures stood at €41 million and €33 million respectively. Conversely, in Larnaca municipality, 542 houses were sold for €78 million, while 486 houses were sold in Aradippou for €110 million and 372 houses in the Livadia municipality for €101 million.

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