18.01.2023
Fields and land were the main focus of property buyers in 2022. In particular, out of 18,598 transactions in the four main categories of real estate over the past year, 6,558, or approximately one in three, concerned fields, and 4,297 – land. The information is derived from comparative property sales data from the Department of Land and Surveying, processed by the Board of Registration of Real Estate Agents.
Demanded plots
Of the 6,558 transactions, most (2,441) are in Limassol and Nicosia (1,792). They are followed by Paphos with 938 land sales in 2022, Larnaca (875) and vacant Famagusta (512).
Moreover, approximately one in four transactions registered in the main categories of real estate in 2022 was related to land, reaching 4,297, of which 1,343 in Limassol , 1,237 in Nicosia, 1,195 in Larnaca , 451 in Paphos and a total of 71 in free Famagusta .
Paphos had the most houses sold, with an increase in apartment sales reaching 5,568. Nearly a third was registered in Nicosia (1917), followed by Limassol (1327), Paphos (1073), Larnaca (940) and free Famagusta (311 ).
At the same time, the total number of transactions with houses reached 2175, of which approximately 1/3 is in the Paphos area (771).
They were followed by Limassol (436), Nicosia (365), Larnaca (325) and free Famagusta (278).
Sales in Cyprus increased
The Cyprus property market has remained robust in 2022 with 22,129 transactions across Cyprus totaling €5.85 billion .
Limassol maintained its lead, attracting the highest sales volume with 6,945 property transactions worth €2.86 billion, followed by Nicosia with 6,237 transactions totaling €1.2 billion.
The real estate market in Paphos also grew with 3,593 transactions worth €890.4 million , Larnaca with 4,160 transactions worth €666.2 million and Famagusta with 1,194 transactions worth €238.4 million. Sale of real estate worth 1.7 billion euros in a total of 5,883 transactions.
