The gap between potential house and apartment buyers is growing.
The growing inequality in the level of wealth is changing the Cyprus real estate market, which leads to an increase in the gap between potential buyers of houses and apartments. Analysts believe that the trend will continue, as the situation in the economy is hitting the standard of living of the population.
The main trends. Real estate agents report a large number of Cypriots who purchase houses and apartments without a mortgage, which contributes to an increase in residential real estate sales.
The real estate market is experiencing a mini-boom, as Cypriots rush to buy housing before the rising cost of construction and the situation in Ukraine affect the market. According to the Land Registry Office, the first five months of 2022 had the largest number of transactions since 2008.
From January to May, 5,090 real estate transactions were carried out compared to 3,577 for the same period last year, which means an increase of 42%. And compared to the same period of pre-crisis 2019, the indicator increased by 5%.
Quote. "We should also be concerned about the growing demand for rent, indicating that many young couples and families cannot afford to enter the real estate market at the moment," says Eleni Averkiou, real estate consultant at Danos/BNPRE Group.
According to her, the growing demand for rental housing has pushed up rental rates.
"Although we cannot quantify the increase in demand, we can say from experience that we are seeing an unprecedented increase in demand for rental housing," she adds.
The expert noted that families are increasingly looking for smaller and cheaper housing, and most of them choose one- and two-bedroom apartments.
Propreties for sale in Cyprus:
595 000 €
Apartment in Paphos, Cyprus
115 sq.m11
Residence
This luxury building is designed to offer sophisticated urban living. An elegant masterpiece consisting of 31 luxury properties: 1-, 2-, 3-bedroom apartments and 2-, 3-bedroom penthouses with their own roof terrace and private pools. Carefully designed layouts and high-quality finishing materials combined with modern design will satisfy those...
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420 000 €
Villa in Larnaca, Cyprus
207 sq.m34
Residence
This outstanding resort consists of 18 separate luxury three-bedroom villas of up to 160 square meters, all with private pools located in spacious landscaped gardens of up to 940 square meters, carefully planned using mature plants. Wooden pergolas and stone-lined walls complete this truly outstanding project offering year-round recreation...
BLUE SKY HOUSES
303 219 €
House in Kyrenia, Cyprus
180 sq.m43
1818. Refurbished 3-Bedroom Villa
Kyrenia - Lapta
Renovated secondary villa with 3 bedrooms + 3 x 7m pool + water and thermal insulation + gate system + CCTV + title deeds, VAT paid.
This small plot of just 11 luxury villas is located near the traditional village of Lapta, just 20 minutes drive from the old port city of Kyrenia. The small...
Red Feniks North Cyprus
219 366 €
Apartment in Kyrenia, Cyprus
65 sq.m211
ResidenceOnline ViewingRemote Transaction
Beautiful, modern complex in a very quiet location with beautiful views of the mountains and the sea.Each penthouse has a large roof terrace. Roof terrace - with built-in lighting, sockets, pergola, sink. The complex will have a central generator.
The complex has a swimming pool, as well as a restaurant, gym, hammam, sunbathing areas,...
Leverage Investments
253 071 €
Flat in Kyrenia, Cyprus
43 sq.m21
LM-1345l. Luxury 1 bedroom garden apartments and penthouses + communal pools
Kyrenia | Tatlys
Luxury 1 Bedroom Garden Apartments & Penthouses + Communal Pools + Heated Indoor Pool + Spa + Restaurant + Gym + Sports Facilities + Walking Distance to Beach + Beach Cinema + Payment Plan
We would like to introduce you to a brand new beach front...
Red Feniks North Cyprus
1 063 700 €
House in Paphos, Cyprus
240 sq.m33
Residence
For sale 1-storey villa of 240rs in Paphos. consists of 3 bedrooms. The owners will be leaving the furniture with the sale. Extras included with the property: parking space. The property boasts a swimming pool of private use.
Mercury Group
2 150 000 €
House in Paphos, Cyprus
366 sq.m433
Residence
For sale under construction 2-storey villa of 366rs in Paphos. The semi-basement consists of 3 bedrooms, one bathroom, 2 shower WC. The ground floor consists of living room with kitchen, one WC, one storeroom, one sauna. There are solar panels for water heating, air conditioning, awnings, heating and a barbecue area. The owners will be leaving...
Mercury Group
955 000 €
Mansion in Paphos, Cyprus
265 sq.m44
Residence
Modern elegant 4 bedroom villas for sale in the famous golf resort. Each villa has its own private pool and large terraces, which are located on their own spacious plots. Each villa is carefully designed with attention to every detail with the highest quality finishes and materials, seducing the potential buyer with the luxury of Mediterranean...
NF Group
250 000 €
Apartment in Paphos, Cyprus
77 sq.m11
BLUE SKY HOUSES
387 805 €
Apartment in Famagusta, Cyprus
77 sq.m322
ResidenceOnline ViewingRemote Transaction
One-bedroom apartment of 77 m2 with a terrace of 40 m2. The apartments perfectly combine comfort and modern style. A new complex will be built in Iskel. The Iskele district is increasingly attracting the attention of buyers.Hotels and casinos in Iskel are also very popular. The sandy beach of Long Beach and the surrounding areas, fish...
Leverage Investments
750 000 €
Villa in Famagusta, Cyprus
173 sq.m333
Residence
Discover the charm of these stunning luxury villas in Protaras, just a short walk from famous sandy beaches. Located in the quiet neighbourhood of Kapparis, these villas provide easy access to shops, supermarkets, dining venues, and private schools in just a few minutes. There is a wide range of amenities, from first-class international...
Cyprus Sotheby's International Realty
472 000 €
Apartment in Limassol, Cyprus
102 sq.m22
Residence
A new ultramodern gated complex consisting of six luxury apartments is located in one of the most prestigious areas of Limassol. Each apartment boasts a spacious living and dining room, which are ideal for family gatherings and special moments. Floor-to-ceiling windows, which are perfectly combined with large verandas, are perfect for enjoying...
BLUE SKY HOUSES
1 500 000 €
Villa in Limassol, Cyprus
298 sq.m33
Residence
The project is a complex of 5 villas located in one of the main tourist areas of Limassol, Germasoia. Each villa has its own individual design and a private pool. Using a high percentage of the development of the site, the villas were designed in such a way as to use every square meter. The choice of natural materials, such as wood and marble,...
BLUE SKY HOUSES
475 000 €
Villa in Paphos, Cyprus
128 sq.m32
Residence
BLUE SKY HOUSES
816 000 €
Villa in Paphos, Cyprus
291 sq.m32
Residence
BLUE SKY HOUSES
430 000 €
Apartment in Paphos, Cyprus
112 sq.m22
Residence
BLUE SKY HOUSES
720 000 €
Villa in Protaras, Cyprus
196 sq.m32
Residence
BLUE SKY HOUSES
200 327 €
Apartment in Alsancak, Cyprus
88 sq.m3
ResidenceOnline Viewing
The kitchen and living room spaces are harmoniously combined in this apartment. A corner sofa is located in the living room, while in the kitchen there is a spacious dining table for six people. The well-equipped kitchen includes a large refrigerator, gas stove, oven and dishwasher. Two bedrooms have spacious double beds, and one of them has a...
There are 9 2-bedroom and 26 3-bedroom units in this project. Which including a 200sm infinity swimming pool and a separate children`sate garden and garage allocated for each houseowner. The public facilities in the community are convenient and complete. We also equipped a large-scale exclusive green space park oxygen bar designed with leisure...
Kotinos
223 091 €
Flat in Larnaca, Cyprus
71 sq.m1
DescriptionStatus: Construction
Location: Shopping Center Area – Larnaca
Project facts:
- 2 residential blocks with 82 apartments - Apartments with 1, 2 and 3 bedrooms - Communal swimming pool - Outdoor bar, gym and meditation room - Children's play area and landscaped gardens - 15 year design warranty - CCTV Cameras