Moni fields sell for €55m in Cyprus’s biggest H1 land deal

Economy propertiesTop News Moni fields sell for €55m in Cyprus’s biggest H1 land deal Moni Fields Sell For €55m In Cyprus's Biggest H1 Land Deal Relevant News Moni fields sell for €55m in Cyprus’s biggest H1 land deal 29 July 2026 Irresponsibility that must be punished 29 July 2026 Communities demand firing range closure following fire, years of problems 29 July 2026 Charalambos Zakos 29 July 2026 FacebookXWhatsAppEmailPrintViber Cyprus’s 50 most expensive property sales in the first half of 2026 topped €286 million, according to Ask Wire, with Limassol continuing to hold its position as the country’s most expensive and most sought-after real estate market. Among the ten most expensive properties sold nationwide, Limassol recorded six transactions worth a combined €117.2 million. Paphos followed with three sales worth €35.5 million, and Larnaca with a single transaction worth €9 million. The data compiled by Ask Wire illustrates clearly the prices being commanded in Cyprus, and particularly in Limassol, which has recorded sharp property price rises for years, even for undeveloped fields. A clear example is the sale of agricultural fields, not even building plots, in the Moni area of Limassol, recorded as the most expensive property transaction in Cyprus in the first half of 2026, worth €55 million. Real estate professionals told Philenews that this land is no ordinary plot but seafront property, with the building on the site considered to hold no value. The same sources said the land is located near the Moni power station. Precursor to major developments Philenews, looking further into the property sales data, found a distinct pattern in recent years, particularly in Limassol. Land purchases increasingly involve large, contiguous plots rather than individual fields or building sites, requiring substantial upfront capital. According to industry professionals, this points to something specific: these moves are seen as the precursor to major developments and investments. This trend is especially notable in Limassol, in contrast to Paphos, where most transactions still involve residential properties. The identity and nationality of the buyers behind these large land purchases cannot be verified from the available data, and even if such information were available, it would not be possible to establish with certainty who is actually behind the purchases. The scale of these investments, running into tens of millions of euros, may involve multiple investors, even where a single company appears as the buyer, backed by different parties and investors, whether Cypriot or foreign. It follows naturally that a land purchase worth tens of millions of euros will lead to development and investment worth several times that amount, meaning that in most cases, a land acquisition of this size likely involves a consortium, or at the very least, more than one investor. One further statistic stands out. Pavlos Loizou, CEO of Ask Wire, commenting on the company’s data, said eight of the ten most expensive property sales of the half-year took place in the first quarter of 2026. This, he added, cannot be disconnected from the uncertainty caused by the ongoing conflict in the Middle East, which has affected investment decisions in the second quarter of the year. Residential stock Related to this is the fact that several major companies that have set up their base or offices in Cyprus have now also become active in the property sector. This was not their original purpose, and the services they provide may have nothing to do with land or property development. However, they are being pushed into it by the practical needs they face. Specifically, a major headache for companies choosing Limassol is finding housing for staff and office space. Local contractors and the available housing stock appear unable to meet demand. As a result, these companies are themselves buying land and constructing their own buildings, used either to house their employees or as office space. Read more: Cyprus home sales rise 3.8% in 2025, Eurostat data shows Subscribe to our Newsletter Latest News Irresponsibility that must be punished Communities demand firing range closure following fire, years of problems EAC continues smart meter rollout across Cyprus in August Rehabilitation centre licensing gets underway across Cyprus Things to do on Wednesday, July 29 Yellow heat warning in effect today as temperatures reach 40°C Christodoulides hopes for “positive developments” after Guterres dinner Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.