Investors start purchasing apartments in Cypriot real estate more frequently
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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
Number of properties sold: 110.
The highest priced villas on average are in Paphos (€398,857) followed by Limassol (€362,429), Famagusta (€273,028) and Larnaca (€205,035).
Land plots
Number of plots sold: 666.
Nicosia had the highest number of deals at 273.
Paphos and Limassol offer the priciest plots costing €265,884 and €260,613, respectively.
Marinos Quineiro, president of the Council for Registration of Real Estate Agents, said that the market conditions had caused a rise in the request for apartments among residents in the area. He explained that the reason for this was the difference in real estate prices and the actual incomes of residents making it difficult for many to get a mortgage to buy an expensive house.
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