True estate revenue approached €1.3 billion

The price of genuine estate sales across Cyprus during the to start with quarter of 2022 reached virtually €1.3 billion, in accordance to formal info from the Office of Lands & Surveys.

Commenting on the figures, the Serious Estate Registration Council (SEK) mentioned that the Land Registry data replicate the dynamic momentum of the authentic estate sector.

In accordance to the Land Registry figures a whole of 5,258 actual estate revenue have been realized in the first quarter of 2022 with a whole value of €1,272,553,880. Commenting on the figures, SEK explained: “As expected, Limassol and Nicosia experienced the lion’s share, while the other districts are moving fairly positively.

“The figures show there is terrific interest in the acquisition of land, as agricultural fields and making plots, quite possibly as an alternative source of investment.

“The figures also expose an increasing demand for apartments in all districts with the exception Paphos exactly where houses had been extra popular.”

Nicosia recorded a full of 1,574 profits, with a full worth of €313,076,363. The major quantity of transactions relevant to residences (536) and agricultural fields (472).

Limassol recorded the maximum range of revenue (1,581) and the highest price of €573,192,094 of all the districts. Unique fascination was recorded for agricultural fields (688) and constructing plots (439).

Paphos sales in the 1st quarter arrived at 887 with a full worth of €186,819,085. SEC commented that “It is noteworthy that Paphos recorded the maximum selection of household gross sales (247) of all the districts.”

Larnaca profits amounted to 958 with a complete benefit of €145,264,178.

Famagusta recorded 258 sale transactions with a complete price of €54,202,160 with curiosity becoming targeted on agricultural fields (162).

Serious Estate Current market Prospectus

The Greek language Phileleftheros reviews that the comparative true estate income facts has been processed and introduced in the 1st quarterly “Real Estate Market Prospectus” of the True Estate Registration Council. It provides a chart of the gross sales achieved in each and every district, which is introduced down below.

Nicosia Limassol Paphos Larnaca Famagusta
Homes 108 55 247 45 22
Apartments 536 164 232 179 47
Plots 269 439 154 477 18
Fields 472 688 282 255 162
Workplaces 22 14 2 3
Stores 15 28 5 18 1
Land 72 107 36 50 2