Property sales in Cyprus reached 1.3 billion euros in the first quarter of 2022, according to a land registry report released on Tuesday. At the same time, the data show a significantly increased demand for apartments, which was also observed last year. However, Paphos is an exception here, as sales of apartments exceed sales of houses in all other areas.
Agricultural fields were of particular interest: during this time, 162 fields were sold.
“This data once again proves the resilience of the market, as well as the confidence in this sector on the part of both Cypriot and foreign property buyers,” said Council President Marinos Kineiro.
At the same time, prices for building materials in March 2022 continued their upward trend, while the corresponding index increased by 19.08 percent compared to the corresponding month of 2021.
According to data released by the Statistical Office of Cyprus (Cystat) on Tuesday, prices for building materials have been rising over the past 14 months.
The building materials price index for March 2022 stood at 125.65 points (based on 2015 = 100), recording a 2.22 percent increase from the previous month.
Each category saw an increase in metal products (31.60%), wood products, insulation materials, chemicals and plastics (20.87%), electromechanical products (14.79%), minerals (7.38%), and also mineral products (6.68%).