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New real estate dynamics with € 1.3 billion in sales in '22

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The dynamics of the real estate sector during the first quarter of 2022 is reflected in the data of the Department of Land Registry and Surveying for the comparative sales of real estate, as processed and presented in the first quarterly “Real Estate Market Prospectus” of the Real Estate Registration Council. >

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According to the data, a total of 5,258 sales worth € 1,272,553,880 were recorded in Cyprus. As expected, Limassol and Nicosia gather the lion's share while the other provinces are moving quite positively. The data also show the great interest that exists for land acquisition, since fields, plots and other plots are very high in the preferences of buyers, possibly as an alternative source of investment. At the same time, the data reflect the significantly increased demand for apartments. With the exception of Paphos province, in all other provinces the apartments sold were more than the houses.

The image by province

In the province of Nicosia, a total of 1574 transactions were recorded, with a total value of € 313,076,363. The largest volume of transactions concerned apartments (536) and fields (472). In the province of Limassol, both the total sales (1581) but mainly their value (€ 573,192,094) were higher than any other province. Particular interest was recorded for fields (688) but also for plots (439).

In the province of Paphos, sales in the first quarter reached 887 and their total value was € 186,819,085. It is noteworthy that Paphos recorded the highest number of house sales (247), more than any other province. In Larnaca, sales amounted to 958 and their total value to € 145,264,178.

Finally, in the province of Famagusta, 258 transactions were implemented with a total value of € 54,202,160 with the interest being intense for fields (162 ).

The president of the Real Estate Registration Council, Marinos Kynageirou, commented that the data show that the market continues to show an upward trend, despite the intense challenges that have been recorded in recent months. “It proves once again the resilience of the market, but also the confidence shown in the sector by Cypriots and foreign buyers of real estate”, he commented.

It is recalled that the Council secured for the first time access to the comparative sales of real estate of the Department of Lands and Surveys to all licensed real estate agents in the context of its ongoing effort to increase transparency and information of both professionals and the public. The Council will present the data of the sector as it emerges from the data, on a quarterly basis, so that there is a constant information of the interested parties about the course of the Real Estate Market in Cyprus.

The picture by province (1st τρίμηνο 2022)

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45

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NICOSIA

ΛΕΜΕΣΟΣ

ΠΑΦΟΣ

ΛΑΡΝΑΚΑ

ΑΜΜΟΧΩΣΤΟΣ

HOUSES

108

55

247

22

< p align = "center"> APARTMENTS

536

164

232

179

47

ΟΙΚΟΠΕΔΑ

269

439

154

477

18

FIELDS

472

688

282

255

162

OFFICES

22

14

2

3

0

STORES

15

28

5

18

1

ΓΗ

72

107

36

50

2

Edited by: Real Estate Registration Board & nbsp;

Source: www.philenews.com

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