19.04.2022
Real estate sales in Cyprus in the first quarter of 2022 amounted to almost 1.3 billion euros, according to data released by the Land Registry, the Real Estate Registration Board said in a statement. The data reflects the dynamics of the real estate sector, notes the Council.
According to the data, 5,258 sales were registered in Cyprus for the amount of 1,272,553,880 euros. “As expected, Limassol and Nicosia account for the lion’s share, while other provinces are doing very positively,” notes the Property Registration Board.
“The data shows that there is a lot of interest in acquiring land as fields and plots are very popular with buyers, possibly as an alternative source of investment. At the same time, the data show a significantly increased demand for apartments.With the exception of the Paphos district, in all other districts, more apartments were sold than houses,” the announcement notes, analyzing land registry data.
There were 1,574 transactions registered in Nicosia, totaling €313,076,363. The largest volume of transactions concerned apartments (536) and plots (472). In the Limassol district, both the total sales volume (1,581) and their value, which amounted to 573,192,094 euros, were higher than in any other area. Particular interest was noted in the fields (688) as well as in the plots (439).
In Paphos district, sales in the first quarter reached 887, and their total value was 186,819,085 euros. “Notably, Paphos has the highest number of home sales (247), more than any other area,” notes the Property Registration Board. In Larnaca, sales amounted to 958 units, and their total cost is 145,264,178 euros.
Finally, in the province of Famagusta, 258 transactions were realized for a total of 54,202,160 euros, with interest concentrated on fields (162).
