A year of more mortgages seems to have evolved in 2020, with pan-Cypriot statistics showing an increase in most provinces, either in the number of mortgages or in the total amount of their value. The quarantine months, however, had a significant effect, where there was a dramatic decrease. With the lifting of the strict restrictions, a significant increase was recorded.
On a pan-Cypriot basis, in October 2020, according to data from the Department of Klimatology and Surveying, there were 1,260 mortgages, totaling € 261,852,995. It is worth noting that the year started with 1,063 mortgages, totaling € 202,141,624, a difference of 197 mortgages, and 22.80%.
- Regarding the provinces, the first in October 2020 was Nicosia, with 532 mortgages, totaling € 87,694,085. In January 2020, the capital had 420 mortgages totaling € 71,715,102.
Second comes Limassol with 338 mortgages in October, compared to 289 in January, totaling € 108,818,437 and € 67,273,642, respectively. Larnaca follows it with 189 mortgages, totaling € 37,175,267, instead of the 159 mortgages in January totaling € 21,361,451.
Paphos had 141 mortgages in October, totaling € 21,871,815, while in January, it had 119 mortgages totaling € 15,788,113. Finally, Famagusta had 60 mortgages in October total € 6,293,391, while in January, it recorded 76 mortgages totaling € 26,003,315.
The fewest mortgages were recorded in April amid restrictions on tackling the pandemic, with 367 mortgages totaling € 65,400,256. By July, mortgages had skyrocketed to 1688 but fell to 1093 in August, recording the largest amount of € 353,192,912. The same applies to the province. Specifically, during the month of April, Nicosia recorded 124 mortgages (€ 18,318,688), Limassol 118 mortgages (€ 24,909,033), Larnaca 41 mortgages (€ 4,334,072), Paphos 61 mortgages (€ 12,799,463) and Famagusta 23 mortgages ( 5,039,000).