- 15,800 property transactions occurred during 2018, recording an annual growth of 1.9% (DLS, 2019).
Real Estate Sale contracts
- 6% increase in Real Estate sale contracts.
Cyprus High-end Residential Property Market (≥ €1,5mln)
- The Cyprus High-end residential property segment represents 19% of the annual transaction value recorded in 2018.
- 324 High- end Residential Properties were sold during 2018, posing a 2% annual growth.
- €810 Million was the Transaction Value for the High-End Residential Properties sold during 2018.
- In terms of development the highest share was recorded in Nicosia district with 33%, followed by Limassol 31%.
Cyprus Transaction Activity by Property Type
- The Cyprus residential property sector consisted of 73% market share which corresponds to €3.1Billion in terms of transaction value. Whereas, land transactions reached €0.8 Billion, representing 19% of the annual transaction value.
- 10,600 housing transactions were completed during 2018, including 6,900 apartments and 3,700 houses.
Cyprus Foreign Transaction Activity
- Properties in Paphos had the highest concentration of foreign buyers regarding sale contracts with a 40% share, followed by Limassol with 30%.
- Non-EU buyers equated for 67% of all property acquisitions by foreigners
Real Estate Prices
- Royal Institute of Chartered Surveyors (RICS) Index recorded an annual growth of 7%; with the Central Bank of Cyprus (CBC) index demonstrating a 2% year on year growth within the Residential Property market.
- The Central Bank of Cyprus index showed an annual growth of 8.6% in Limassol, outperforming the other districts.
- Reflecting the increasing demand for Grade A office space, an annual growth of 9% was recorded