a
Print
version

What is Changing the Cyprus Real Estate Market?

  • 42
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:
Apartment for 595 000 euro in Paphos, Cyprus
595 000 €
Apartment in Paphos, Cyprus
115 sq.m 1 1
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...
NF Group
Villa for 420 000 euro in Larnaca, Cyprus
420 000 €
Villa in Larnaca, Cyprus
207 sq.m 3 4
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
House for 303 219 euro in Kyrenia, Cyprus
303 219 €
House in Kyrenia, Cyprus
180 sq.m 4 3
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
Apartment for 219 366 euro in Kyrenia, Cyprus
219 366 €
Apartment in Kyrenia, Cyprus
65 sq.m 2 1 1
Residence Online Viewing Remote 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
Flat for 253 071 euro in Kyrenia, Cyprus
253 071 €
Flat in Kyrenia, Cyprus
43 sq.m 2 1
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
House for 1 063 700 euro in Paphos, Cyprus
1 063 700 €
House in Paphos, Cyprus
240 sq.m 3 3
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
House for 2 150 000 euro in Paphos, Cyprus
2 150 000 €
House in Paphos, Cyprus
366 sq.m 4 3 3
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
Mansion for 955 000 euro in Paphos, Cyprus
955 000 €
Mansion in Paphos, Cyprus
265 sq.m 4 4
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
Apartment for 250 000 euro in Paphos, Cyprus
250 000 €
Apartment in Paphos, Cyprus
77 sq.m 1 1
BLUE SKY HOUSES
Apartment for 387 805 euro in Famagusta, Cyprus
387 805 €
Apartment in Famagusta, Cyprus
77 sq.m 3 2 2
Residence Online Viewing Remote 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
Villa for 750 000 euro in Famagusta, Cyprus
750 000 €
Villa in Famagusta, Cyprus
173 sq.m 3 3 3
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
Apartment for 472 000 euro in Limassol, Cyprus
472 000 €
Apartment in Limassol, Cyprus
102 sq.m 2 2
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
Villa for 1 500 000 euro in Limassol, Cyprus
1 500 000 €
Villa in Limassol, Cyprus
298 sq.m 3 3
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
Villa for 475 000 euro in Paphos, Cyprus
475 000 €
Villa in Paphos, Cyprus
128 sq.m 3 2
Residence
BLUE SKY HOUSES
Villa for 816 000 euro in Paphos, Cyprus
816 000 €
Villa in Paphos, Cyprus
291 sq.m 3 2
Residence
BLUE SKY HOUSES
Apartment for 430 000 euro in Paphos, Cyprus
430 000 €
Apartment in Paphos, Cyprus
112 sq.m 2 2
Residence
BLUE SKY HOUSES
Villa for 720 000 euro in Protaras, Cyprus
720 000 €
Villa in Protaras, Cyprus
196 sq.m 3 2
Residence
BLUE SKY HOUSES
Apartment for 200 327 euro in Alsancak, Cyprus
200 327 €
Apartment in Alsancak, Cyprus
88 sq.m 3
Residence Online 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...
Leverage Investments
Villa for 703 800 euro in Limassol, Cyprus
703 800 €
Villa in Limassol, Cyprus
220 sq.m 3 3
Residence Online Viewing Remote Transaction Cryptocurrency payment
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
Flat for 223 091 euro in Larnaca, Cyprus
223 091 €
Flat in Larnaca, Cyprus
71 sq.m 1
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
Tradegoria Global Estate

Source: Cyprus Property News

Quoting conditions of Prian.info materials

Share the link:
Tags: Cyprus, Market Analysis, Real Estate

Read also

European commercial real estate investments fell to an 11-year low
Investors are concerned about high interest rates and economic uncertainty.
Property sales in Cyprus have surged by 23% in the first half of the year
The number of concluded sales has reached more than 7000 during the first six months of 2023.
The mayor of Larnaca told that foreign investments are booming
The city is undertaking multimillion projects.
The easiest сountries to get сitizenship in the EU have been revealed
The study was conducted by the Canadian immigration agency CanadaCIS.
Housing prices in the EU have increased by almost 50% in 12 years
Purchase prices are rising faster than rental rates.
Prices for buying and renting properties in Cyprus have surged once again
The growth was indicated on a quarterly basis and year-on-year.

Interesting to read

News and articles on the topic «Cyprus»

Cyprus Real Estate Market: Property Types, Locations, and Prices

Real estate prices in Cyprus keep on climbing, drawing in international investors. It's not just...

  • 15.03.2024
  • 11

EU tourism performance exceeds pre-pandemic levels

The number of nights spent in EU tourist accommodation reached 2.9 billion in 2023.

  • 12.03.2024
  • 14