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Negative values were recorded in some regions. Situation Danos International Property Consultants & Valuers state that the Cypriot real estate market is experiencing a downturn. This trend is being seen for the first time in the past 4 years, with prices starting to level out and decrease in some regions. This information is based on the results for the last quarter. Limassol Apartment prices in the priciest city in Cyprus dropped by 0.5% in Q2 2024 compared to the previous 3 months. There was a...

Apartments in Cyprus are more in demand than villas. The Cyprus Council for the Registration of Real Estate Agents has released data for Q2 2024 based on information from the Land Department. Apartments Number of properties sold: 489. Nicosia has the highest number of deals. Limassol is the priciest at €246,919 followed by Nicosia at €134,031, Larnaca at €133,058, Paphos at €122,846 and Famagusta at €109,804. Villas ...

Cyprus attracts the attention of foreign investors not only by its affordable prices but also because of the possibility of getting a residence permit. To obtain it, it is enough to buy a house worth €300,000 or more. However, local realtors note that unscrupulous cases of deception of future homeowners are becoming more frequent. We are talking about the fact that during the discussion of the transaction, it is stated that in order to obtain a residence permit, the real value of the property is important rather than the amount of...

The property market in Cyprus reached its highest level in the last 15 years at the end of the first half of the year. This is confirmed by the data in the report presented by the Central Bank of Cyprus (CBC). Prices for housing, especially flats, are actively growing, which is due to increased demand. Apartments, on average, rose in price by 3.1%. In Q2 2023, the Cyprus House Price Index (HPI) showed an increase of 1.5% compared to an increase of 2.1% in the previous quarter. On a year-on-year basis, property values increased by 7...

Despite rising interest rates on loans, inflation, and the difficult political situation in the world, the real estate market in Cyprus shows good results. According to analysts, from January to August this year in Cyprus, there were registered 11,655 real estate sales transactions, the total value of which reached €2.8 billion. The growth in sales compared to the same period last year amounted to 31%. While locals are cautious about buying real estate in Northern Cyprus, non-residents of the country are actively choosing objects on...

According to the latest Cyprus property market data, 1,383 properties were sold in Limassol in the second quarter of this year for a value of approximately €437.9 million. The sales are divided as follows: 499 apartments, 271 private houses, 183 plots, and 430 fields. Apartments yielded around €197.2 million, private homes €115.8 million, while land plots for construction and general purposes brought around €49.3 and 75.5 million, respectively. Apartments Limassol accounted for 26.6% of all apartment...

The construction industry in Cyprus reported a 16.5% increase in the total value of new buildings on the market in the first half of 2023. The total area of land under development also went up by 3%, according to the Cyprus Statistics Agency (Cystat). While the total value of new construction projects and the amount of land under development increased in the first half of the year, the number of building permits for the period fell by 7.4% year-on-year. This is a decrease from 3,898 permits in the first half of 2022 to 3,608 permits...

Real estate experts from Lefkoşa (North Nicosia) named the advantages of investing in Famagusta District and singled out several areas where investments would be the most profitable. The local luxury housing market is considered particularly lucrative, attracting investors and buyers from all over the world. According to the experts, properties with the highest returns are in the following locations: Long Beach is a resort area with many large residential projects. The cost of rent is high thanks to the well-developed...

In Cyprus, in addition to skyrocketing property prices, the cost of home repairs rose markedly. This refers to both eliminating household emergencies and maintaining the efficiency of utility systems. Experts note that the main reason for the increase in repair prices was the rise in the cost of building materials. In addition, trades people (for example, electricians and plumbers) are charging more and more for their services. According to statistics, over the year, plumbing work rose in price by 20.8%. In June 2022,...

Courtyard Platinum, a premium residential development consisting of 940 apartments, will be built in İskele. Layouts include studios and 1+1, 2+1, and 3+1 units. In addition to apartments, residents will receive small gardens and rooftop terraces. The internal infrastructure features several outdoor and indoor swimming pools, a shopping street, restaurants, a spa, a fitness centre, picnic areas, and tennis and basketball courts. The development is being built just 600 metres from the sea coast with several large beaches. ...