14.07.2022
With some ups and downs, the real estate market remains on solid footing and sales, both in volume and value, are showing a dynamic course.
According to a comparative analysis of sales of real estate by the Cadastre and Survey Department, processed and presented in the second quarterly “Real Estate Market Bulletin” of the Real Estate Registry Office, sales in the second quarter of the year amounted to 5,442, with a value of up to 1.2 billion euros.
It is noted that the Council for the first time provided access to comparative sales of real estate of the Department of Land and Land Management for all licensed real estate agents.
Detailed operations by province
With 1,641 transactions totaling 587 million euros, Limassol maintains its leadership in the Cypriot real estate market.
In fact, the sales volume has increased from 1581 in the first quarter of 2022, as has the value (573 million euros in the first quarter).
On the contrary, Nicosia in the second quarter of 2022 recorded an increase in sales (1,620 from 1,574), a decrease in value (268 million euros from 313 million euros).
Larnaca actively entered the second quarter, which has 1,034 transactions out of 958 in the first quarter, and their value increased to 173 million euros from 145 million euros.
On the other hand, Paphos recorded a slight decline in its property market performance, both in volume (832 sales from 887) and value ( € 174m from €187m).
Free Famagusta saw 295 transactions in the second quarter of 2022 compared to 258 in the first quarter, totaling €59 million out of €54 million.
Huge interest in apartments and … fields
The need of Cypriots, as well as foreigners, for the purchase of housing remains stable and acute, despite the conditions of uncertainty and inflation.
in Free Famagusta , according to data obtained from the Real Estate Registration Board .
| NICOSIA | LIMASSOL | PATHOS | LARNACA | FAMAGUSTA | |
| AT HOME | 61 | 46 | 110 | 45 | 49 |
| APARTMENTS | 562 | 286 | 275 | 177 | 74 |
| PLOTS | 280 | 192 | 69 | 205 | 31 |
| FIELDS | 409 | 410 | 181 | 198 | 174 |
There were 311 house sales in total, the majority of which were in Paphos (110), with the majority dealing with mansions. The rest of the cities followed him, not much different from each other. In particular, 61 house purchases were made in Nicosia, 49 in free Famagusta, 46 in Limassol and 45 in Larnaca.
A total of 777 acquisitions were made in the second quarter, of which 280 were in Nicosia, 205 in Larnaca, 192 in Limassol, 69 in Paphos and 31 in Famagusta.
There is also a lot of interest in buying fields. Limassol (410) and Nicosia (409) sold the most, followed by Larnaca (198), Paphos (181) and Famagusta (174).
