Dynamics of demand and prices for real estate in Cyprus
December 14, 2021
The current year has shown a significant increase in demand for real estate in Cyprus. In the first 9 months the number of sales increased by 29% over the previous year. Comparing this figure with 2019, there is a decrease in demand by 9%.
The current year has shown a significant increase in demand for real estate in Cyprus. In the first 9 months the number of sales increased by 29% over the previous year. Comparing this figure with 2019, there is a decrease in demand by 9%. However, experts believe that by the end of 2021 the market will reach pre-pandemic figures.
Among the most popular cities:
- Nicosia;
- Limassol;
- Larnaca;
- Famagusta;
- Pathos.
As for foreign investments, they account for about a third of all transactions.
How have prices changed?
At the beginning of 2021, house prices in Cyprus fell by 5.8% in annual terms. However, since the second quarter the country has seen an increase in prices for residential and commercial real estate. These dynamics are expected to continue.
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