30.12.2022
The President of the Association of Real Estate Agents and Entrepreneurs of Cyprus ( Skek ), Andreas Kauris , said on Thursday that despite problems with declining global property prices, the Cyprus property market remains stable and sales continue to grow.
According to data provided by Kauris at the association’s annual general meeting, real estate sales in the first ten months totaled 10,781, an increase of 7,914 from last year in the corresponding time period, and the first ten months of 2022 were better than the corresponding period of 2008.
In addition, sales documents filed with the Land Registry in November 2022 are 12,074 compared to 9,063 last year, representing an increase of 33%.
“This is the best eleven months since 2008, when sales hit 14,043 units,” Kauris said .
Kauris also stressed that there is a steady upward trend in demand for real estate from foreigners. He described the rental property situation in both Limassol , and Nicosia as “tragic”, before calling on the state to take action to provide affordable housing.
In addition, Kauris specifically mentioned illegal real estate brokering, stressing that illegal real estate agents, whose number is constantly increasing, are profiting both at the expense of buyers and at the expense of the state.
“As an association, we are ready to cooperate, both with the government and with the House of Parliament and all relevant bodies, in order to jointly find a solution to this age-old problem, which deprives the state of millions of legal revenues and, at the same time, discredits Cyprus at the international level,” concluded Kauris .
