Demand For Real Estate Recovers In Cyprus

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14 January 2022 Liza Medvetskaya
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The Department of Lands and Surveys has published fresh data on real estate sales in Cyprus for 2021.

According to official statistics, there has been a positive trend in the country. The demand for housing in Cyprus in 2021 compared to 2020 has increased not only from the local population and EU citizens, but also from third-country citizens.

What is even more interesting, the number of sales to local and European buyers in 2021 exceeded the number of transactions in the pre-pandemic 2019, and the amount of real estate sold for the year was only 0.18% lower.

Sales of real estate in the domestic market

Sales of real estate in the domestic market in 2021 increased by 13% compared to 2019 and by 34% compared to 2020. In total, 6,656 contracts for the purchase and sale of real estate were concluded with local residents:

  1. 2477 in Nicosia,
  2. 378 in Famagusta,
  3. 913 in Larnaca,
  4. 2212 in Limassol,
  5. 676 in Paphos.

Real estate sales to EU citizens

Real estate sales to EU citizens in 2021 increased by 20% compared to 2019 and by 59% compared to 2020. The total number of purchase and sale agreements was 1836:

  1. 225 deals were made in Nicosia,
  2. 168 in Famagusta,
  3. 293 in Larnaca,
  4. 467 in Limassol,
  5. 683 in Paphos.

Real estate sales to third-country nationals

The total number of sales for citizens of non-EU countries in 2021 decreased by 37% compared to 2019, but increased by 76% compared to 2020. In total, 1885 purchase and sale transactions were concluded during the year:

  1. 122 in Nicosia,
  2. 146 in Famagusta,
  3. 468 in Larnaca,
  4. 660 in Limassol,
  5. 459 in Paphos.

На Кипре восстановился спрос на покупку недвижимости

If you are looking for a property in Cyprus, then contact DOM. The website has a large selection of real estate - residential and commercial. Experienced agency specialists will be happy to help you make the right choice.
Source: news.cyprus-property-buyers.com
Photos: pixabay.com
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