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:
650 000 €
Apartment in Limassol, Cyprus
112 sq.m22
Residence
Description: 2 bedrooms, bathroom, open plan kitchen, living room, A/C, F/F, packing place, storage room.Covered Area: 112 m2 The complex is located just 100 meters from one of the best blue flag beaches in Limassol.Close to the city center, close to international schools, banks, shops, beach bars and restaurants.In the most prestigious area of...
BLUE SKY HOUSES
980 000 €
Apartment in Limassol, Cyprus
115 sq.m22
Residence
The project is located in the most charming and green part of Limassol.
Living in such a beautiful and green house, consisting of 20 apartments with one, two and three bedrooms, is compared to relaxing in a cozy seaside and mountain resort at the same time.
It is located just 150 meters from the sandy and elegant beach with the purest and...
BLUE SKY HOUSES
799 814 €
Villa in Alsancak, Cyprus
306 sq.m5
ResidenceOnline ViewingRemote TransactionCredit
5-room villa of 306 m2 with its own plot of land 5 minutes from the beach. The complex is located in a quiet, peaceful location close to all necessary infrastructure. High quality of construction and finishing materials.
Beautiful views of the sea and mountains. Stylish architectural design. The convenient location is close to the center of...
Leverage Investments
266 488 €
Apartment in Esentepe, Cyprus
49 sq.m211
ResidenceOnline ViewingRemote Transaction
The complex will be built in a very quiet and cozy place. Korineum Golf Club is 1 km away
The complex will have a large communal saltwater swimming pool with sea views, landscaping and landscaping of the complex. There is a beautiful swimming bay nearby. The apartment has a spacious terrace of 4.5 (m2).There is a large supermarket near the...
Leverage Investments
2 950 000 €
Villa in Paphos, Cyprus
443 sq.m42
Residence
Beautiful detached three bedroom villa located on a hilltop in the prestigious and popular area of Peyia, Paphos. The villa offers breathtaking panoramic views, green landscapes. The outdoor outdoor area has a kitchenette with barbecue facilities, a photovoltaic system for a private pool, an electric gate and a double carport. The house has...
BLUE SKY HOUSES
890 000 €
House in Paphos, Cyprus
240 sq.m1
Residence
Project Features: Situated in a quiet area of Geroskipou, a Pafos suburb, this custom built villa is designed with all the modern conveniences and has large private swimming pool. This detached 4 bedroom property is within walking distance of the village and set on a gentle hillside offering beautiful sea and countryside views. Although this...
Mercury Group
799 000 €
House in Paphos, Cyprus
440 sq.m1086
Residence
For sale 3-storey villa of 440rs in Paphos. The ground floor consists of 3 bedrooms, living room with kitchen, 3 shower WC, one dressing room. The first floor consists of 2 bedrooms, living room with kitchen, one bathroom. The second floor consists of 3 bedrooms, 2 bathrooms. There are solar panels for water heating. The owners will be leaving...
Mercury Group
506 000 €
House in Paphos, Cyprus
162 sq.m432
Residence
For sale under construction 2-storey villa of 162rs in Paphos. The ground floor consists of living room with kitchen, one WC, one storeroom. The first floor consists of 3 bedrooms, one bathroom, one shower WC. There are solar panels for water heating, air conditioning and heating. The owners will be leaving the furniture with the sale. There is...
Mercury Group
1 399 000 €
Villa in Limassol, Cyprus
400 sq.m54
Residence
BLUE SKY HOUSES
420 000 €
Villa in Paphos, Cyprus
198 sq.m33
Residence
BLUE SKY HOUSES
330 358 €
Apartment in Famagusta, Cyprus
69 sq.m211
ResidenceOnline ViewingRemote Transaction
The new complex will be built by January 2026 in Boaz. Boaz is a beautiful village with many fish restaurants and sandy beaches. The complex will have a communal swimming pool and a basketball court.
Apartment 1+1 Penthouse 69 m2 with a terrace of 50 m2 in 1250 meters from the sandy beach will be an excellent choice for living in Northern...
Leverage Investments
318 766 €
Apartment in Kyrenia, Cyprus
81 sq.m322
ResidenceOnline ViewingRemote Transaction
The village of Bakhcheli is located in the immediate vicinity of Esentepe, in the suburb of Girne. The Korineum Golf Club is just a short drive away, the beach is 5 minutes away, and the new marina will be 3 minutes away.
Bakhcheli is famous for its unforgettable picturesque landscapes and attracts tourists from all over the world with large...
Leverage Investments
320 000 €
Villa in Paphos, Cyprus
141 sq.m32
Residence
For sale a modern semi-detached house with 3 bedrooms surrounded by beautiful landscapes in the village of Mandria in the Paphos area. The house has spacious outdoor areas and covered verandas in a peaceful environment, ideal for family holidays and relaxing summer holidays. It is within walking distance of famous sandy beaches and other...
BLUE SKY HOUSES
190 000 €
Apartment in Larnaca, Cyprus
94 sq.m21
The apartment is located in Mackenzie, a popular area of Larnaca, known for its proximity to the beach and the salt lake. The advantageous location of the apartment makes it attractive for both permanent residents and tourists. A significant advantage is being just a seven-minute walk from the sea, especially for those who love the beach and the...
BLUE SKY HOUSES
855 000 €
Villa in Paphos, Cyprus
268 sq.m334
Residence
The new residential project is nestled in the charming village of Tala, an upscale suburb just a few kilometers north of Pafos, offering a tranquil setting, natural beauty, and stunning sea views. Tala is renowned for its welcoming community, pleasant microclimate, picturesque surroundings, and well-developed infrastructure, making it one of...
Cyprus Sotheby's International Realty
522 210 €
House in Paphos, Cyprus
135 sq.m3
Residence
Konia Panorama is one of the most impressive projects in the picturesque village of Konia. Panoramic sea view 3 Bedroom villa-type B: Master bedroom with ensuite 1WC, 1 Shower & 1 Bathroom Large tiled balconies and verandas Fire place dressed in stonework Private parking area Private swimming pool (Optional) Private garden Pergolas Storage space
Mercury Group
567 000 €
Villa in Paphos, Cyprus
95 sq.m22
Residence
BLUE SKY HOUSES
238 000 €
Penthouse in Gazimagusa, Cyprus
90 sq.m321
Online ViewingRemote Transaction
Apartments in a Well-Developed Compound in Tatlısu
Cyprus is the 3rd biggest island in the Mediterranean Sea. Tatlısu is a beautiful living space situated in Northern Cyprus. With its short distance from the big cities like Girne, İskele, and Gaimağusa; Tatlısu has an ideal location. With 2 and 3-storey residential buildings throughout, Tatlısu...
TEKCE
263 000 €
Apartment in Iskele, Cyprus
115 sq.m431
Online ViewingRemote Transaction
Flats Near to Sea and Beach in North Cyprus, İskele
İskele region is located on the east side of North Cyprus and is famous for its unique sandy beaches. İskele is an ideal place to live with its crystal clear sea, greenery campsite, and warm climate. The village of Ötüken in İskele is a short drive from the city centers of Iskele and Famagusta....
TEKCE
260 000 €
Apartment in Larnaca, Cyprus
116 sq.m332
Welcome to a new exclusive residential complex nestled in the serene area of Livadia, Larnaca, offering a convenient and fulfilling lifestyle close to all amenities. This unique project features a communal swimming pool and gym, creating a healthy and enjoyable atmosphere for residents to indulge in. The modern development comprises three...
