Serious estate sales approached €1.3 billion

The price of serious estate sales across Cyprus during the first quarter of 2022 reached practically €1.3 billion, in accordance to official data from the Section of Lands & Surveys.

Commenting on the figures, the Authentic Estate Registration Council (SEK) said that the Land Registry knowledge mirror the dynamic momentum of the authentic estate sector.

In accordance to the Land Registry figures a full of 5,258 serious estate product sales ended up realized in the initial quarter of 2022 with a total worth of €1,272,553,880. Commenting on the figures, SEK reported: “As expected, Limassol and Nicosia experienced the lion’s share, whilst the other districts are relocating pretty positively.

“The figures indicate there’s fantastic interest in the acquisition of land, as agricultural fields and creating plots, quite possibly as an alternate source of expenditure.

“The figures also reveal an rising demand for flats in all districts with the exception Paphos wherever houses were additional popular.”

Nicosia recorded a total of 1,574 profits, with a full benefit of €313,076,363. The premier quantity of transactions relevant to flats (536) and agricultural fields (472).

Limassol recorded the optimum selection of income (1,581) and the optimum benefit of €573,192,094 of all the districts. Particular interest was recorded for agricultural fields (688) and setting up plots (439).

Paphos product sales in the 1st quarter reached 887 with a overall benefit of €186,819,085. SEC commented that “It is noteworthy that Paphos recorded the greatest variety of dwelling income (247) of all the districts.”

Larnaca product sales amounted to 958 with a total worth of €145,264,178.

Famagusta recorded 258 sale transactions with a overall value of €54,202,160 with curiosity staying concentrated on agricultural fields (162).

Genuine Estate Industry Prospectus

The Greek language Phileleftheros reports that the comparative serious estate income info has been processed and introduced in the to start with quarterly “Real Estate Market place Prospectus” of the Serious Estate Registration Council. It offers a chart of the gross sales accomplished in every district, which is offered below.

Nicosia Limassol Paphos Larnaca Famagusta
Homes 108 55 247 45 22
Residences 536 164 232 179 47
Plots 269 439 154 477 18
Fields 472 688 282 255 162
Workplaces 22 14 2 3
Retailers 15 28 5 18 1
Land 72 107 36 50 2

For over 20 years, Quality Home Developers has established itself as one of the largest leading and award winning Cyprus property developers and the preferred partner for acquiring residential and commercial properties on the Cyprus island.
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