03/11/2022
Cyprus records a real estate boom in Q3 2022 🔥
The volume of real estate transactions increased by 34% compared to Q2 and reached €1.65 billion.
According to the Department of Land Resources, 5,566 transactions were registered from July to September.
▪️Limassol was the leader both in terms of total sales (1,781 deals) and their value (€762 million).
▪️There were 1,442 deals worth €363 million in Nicosia.
▪️ In Paphos, 876 properties were sold for €276 million.
▪️ In Larnaca 1,147 properties were sold totaling €188 million, and in Famagusta — 320 deals worth €63 million.
There has been an increased demand from foreigners in Limassol, Larnaca and Paphos.
By the way, Cyprus offers a residence-by-investment programme for buyers who purchased real estate worth €300,000.
📝 Tranio offers a wide variety of properties in Cyprus and helps with obtaining a residence permit there. Message us to book a consultation with our manager.