07.08.2022
The real estate market moved with an upward trend during the first seven months of 2022, effectively making up for the losses of previous months.
According to the Department of Land and Geodetic Works, between January and July 2022, 7,481 sales documents were filed in Cyprus. This is a 39% increase from 5365 sales documents filed last year in the same period. In July 2022, the number of trade documents increased by 41% to 1218 compared to 864 in July 2021.
The largest increase in trade documents was recorded in the province of Paphos, with 1,570 trade documents registered between January and July 2022, up 74% from 904 trade documents in 2021. July was also at a high level: 265 papers . sales documents and 82% more than 146 in July last year.
Limassol recorded a 48% increase in July with 410 trade documents compared to 277 trade documents in the corresponding month last year. In total, 2,559 sales documents were processed in the first seven months of the year, which is 53% more than in the corresponding period of 2021, when 1,673 sales documents were filed.
A total of 1,638 real estate sales documents were submitted for the period from January to July 2022 for Nicosia. Compared to the corresponding period last year, there is an overall increase of 4% (1,582 trade documents for January-July 2021). As of July this year, 260 sale documents have been submitted, which is 6% more than in July last year (246 sale documents).
In Larnaca, between January and July 2022, the number of sales documents increased by 60% to 1,345 compared to 843 in the corresponding period last year. July saw the biggest monthly increase of 69%, with 223 trade documents this year compared to 132 last year.
As for the Free Province of Famagusta, a total of 369 sales documents were filed in the first seven months of 2022, up 2% from 363 sales documents in 2021. However, the month of July remained negative with 60 trade documents this year, up from 63 last year.
