The top transactions, completed between January and June, amassed a total of €144.9 million. Notably, the most expensive sale was an office in Potamos Germasogeia, in Limassol, which sold for a staggering €28 million.
The Limassol district dominated the list, accounting for seven out of the ten slots, with transactions amounting to €116.5m.
The Nicosia district followed in second place, contributing two significant sales totalling €19.3m, while the Larnaca district appeared with a single sale valued at €9m.
Among the top ten sales, the properties included a range of types: offices, apartments, commercial developments, restaurants, mixed-use buildings, and an outlet store.
Limassol’s top sales were particularly varied, featuring high-value offices, an apartment in the Amathus-Mouttagiaka area, a commercial development in Apostolos Andreas, and a restaurant in Pentakomo, among others.
Moreover, the cumulative value of the top 50 most expensive properties sold in the first half of 2024, ten per district, reached €262.1m.
According to the announcement, the competition, which is organised annually by the centre, under the auspices of the Ministry of Energy, Commerce and Industry, aims to promote entrepreneurship and innovation in the modern economy.
“The primary aim of the 2024 CyEC is to support innovative business initiatives and help transform them into sustainable and globally oriented enterprises,” the university stated.
“The competition emphasises understanding the balance between problem and solution, as well as achieving a product-market fit,” it added.
Eligible participants include start-ups, individuals with pioneering and innovative ideas, and experienced professionals from the business and research sectors in Cyprus and abroad.
Additionally, participating teams will have the unique opportunity to receive guidance and support from seasoned mentors, academics, and business leaders.
This is because the issue affects not only consumers but also producers, who are not compensated in line with the prices paid by consumers.
In a statement released on Monday, the association highlighted the impact of fresh fruit and vegetable prices on household budgets. A survey covering 30 types of fruits and vegetables revealed concerning data that supports consumer fears of excessive retail price hikes.
The survey results showed that for 27 out of 30 items, the gross profit margin on the price paid to retailer – effectively the middleman between producers and consumers – exceeded 107 per cent. The association considers a “reasonable total gross profit margin” to be between 50-60 per cent over the producer price.
Speaking on CyBC radio, the energy minister faced ongoing criticism over the project, fanned last week by the double whammy of the European public prosecutor office’s (EPPO’s) announcement of the launch of an investigation and the EU’s demand for project funds to be returned.
“This government has done all it can to minimise the fallout,” Papanastasiou said.
Countering cover-up allegations, the minister said EPPO’s investigation into possible procurement fraud, misappropriation of EU funds and corruption, which has been ongoing since March, could not have been have been announced sooner by the state as this would have breached the EU’s information-sharing protocols.
The EPPO investigation is also “a completely separate matter” from the decision by the European climate, infrastructure and environment executive agency (Cinea) to request the return of the almost €69 million paid out for the project, from a pledged total of €101 million, he added.
The Cyprus Stock Exchange (CSE) ended Monday, July 29 with profits.
The general Cyprus Stock Market Index was at 165.85 points at 12:50 during the day, reflecting an increase of 0.55 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 100.98 points, representing a rise of 0.57 per cent.
The total value of transactions came up to €516,798, until the aforementioned time during trading.
In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 0.77 per cent, 0.12 per cent and 3.62 per cent respectively. The hotel index remained unchanged.
The biggest investment interest was attracted by Hellenic Bank (+0.39 per cent), Demetra (+3.7 per cent), the Bank of Cyprus (no change), the Cyprus Cement Company (no change), and Vassiliko Cement Works PLC (+0.55 per cent).
