The real estate market continued its upward trend in March, with all cities except Nicosia showing a positive trend.
Real estate sales in March this year reached 1,102 from 826 in March last year, up 33%, according to the Department of Land Management.
In the first quarter of 2022, the number of trade documents increased by 52%, reaching 3009 since 1985 in the first quarter of 2021.
A slight drop in Nicosia, Limassol remained first in sales with 366 trade documents in March 2022, up from 229 in March 2021, representing a 60% increase.
Between January and March 2022, 1019 sales were registered in Limassol compared to 559 in the corresponding period last year, representing an increase of 82%.
Sales filings in Nicosia fell 10% in March to 252 from 281 in March last year, while remaining roughly stable (up 4%) in the first quarter of the year at 673 from 646 in the corresponding period of 2021.
In March this year, 220 properties were sold in Paphos, up from 143 in March last year, a 54% increase. In the first quarter of the year, Paphos counted 653 sales documents out of 335 for the same period in 2021, representing a 95% increase.
In the third month of 2022, Larnaca property sales increased by 65%: they were 190 compared to 115 in the same month of 2021, and in the first quarter of 2022, sales reached 512, compared to 315 in the same quarter. 2021, recording an increase of 63%.
In Free Famagusta, the number of sales documents reached 74 in March 2022 compared to 58 in the corresponding month last year, representing an increase of 28%.
In the first quarter of 2022, sales in the said province increased by 17% to 152 compared to 130 in the corresponding period of 2021.