08.04.2022
More than 3,000 real estate transactions in three months, while in recent months the market has been developing steadily.
It is worth noting that the latest real estate market indicators are higher than in 2019, a year before the start of the pandemic.
Overall growth of 27%
According to the Land Registry, property sales in Cyprus reached 1,102 in March this year, recording a 43.8% increase compared to March 2019 (766 sale documents).
In addition, sales in the first quarter of 2022 were 3,009 from 2,366 in the corresponding period of 2019, up 27.1%.
Sales documents for the first quarter of this year in Limassol increased by 28.3% compared to the corresponding quarter of 2019, reaching 1019 from 794.
Paphos recorded 583 sales in the first quarter of 2019 and 653 this year, representing an increase of 12%.
Jump in Nicosia and Larnaca
More impressive is the rise (over 38%) in the capital, as property sales between January and March 2022 were 673 compared to 486 in the corresponding period in 2019, the year before the pandemic.
As for Larnaca, the growth compared to the first quarter of 2019 (357 trade documents) exceeds 43% (512 trade documents in the first quarter of 2022).
The only province in which sales have remained stable three years later is Freehold Famagusta, where 152 sales documents were filed in the first quarter of 2022, compared to 148 in the corresponding period of 2019.
