In the final quarter of 2023, the Cypriot real estate market demonstrated impressive resilience and growth dynamics, overcoming challenges such as inflation, rising interest rates, and increasing property costs. According to official reports, during this period, a total of 3,534 property transactions were made, amounting to €517.3 million, and 2,907 sales documents were registered, summing up to €913.6 million. These figures underscore the active interest and confidence in Cyprus’s real estate sector.
Sales were notably high in Nicosia, with 1,139 transactions totaling €150.4 million, primarily due to plots and fields. Limassol followed closely with 916 transactions amounting to €149 million, also showing significant demand for fields. Paphos, Larnaca, and Famagusta also displayed solid performance, indicating market activity and a diversity of sought-after properties.
Sunny Bay Real Estate Agency in Cyprus highlights the importance of these figures for potential investors and buyers. In a scenario where the real estate market continues to show growth and stability even amidst economic challenges, investing in Cypriot real estate emerges as a profitable and promising decision. Limassol stands out not only in the number of transactions but also in the volume of investments, making it an attractive destination for investors.
Marinos Kineyirou, President of the Cyprus Real Estate Registration Council, emphasizes that real estate remains a key sector of the Cypriot economy, contributing to its stability and prosperity. Consequently, Sunny Bay’s strategy is aimed at offering clients not only advantageous deals but also professional support throughout the property acquisition process.
Choosing Sunny Bay means opting for reliability, professionalism, and a deep understanding of Cyprus’s real estate market. We aim to ensure that every transaction is not only beneficial but also as comfortable as possible for our clients. Allow us to be your trusted partner in the world of Cypriot real estate.
