The number of properties across all districts that have been bought by foreign nationals in recent years is significant, according to official figures provided by the Department of Lands and Surveys. Based on figures submitted to the House of Representatives by Interior Minister Constantinos Ioannou, more than 37,000 properties have been sold to foreign buyers – including EU citizens and nationals...
Cyprus’s real estate market maintained previous year’s levels in 2024, with 19,155 property transfers worth €4.3 billion and 15,797 sales contracts filed nationwide, according to data from the Department of Lands and Surveys. Year-on-year figures show a 1.8% increase in property transfers and a 1.5% rise in sales contracts, although the total value of transfers decreased by 2.3%. “2024 was...
Cyprus’ apartment market presents a stark contrast between Limassol and Nicosia, as highlighted by real estate analytics firm Ask Wire. Limassol’s luxury apartment prices soar to €5 million, while Nicosia offers affordable options starting at just €50,000. Together, these cities dominate the country’s apartment sales, accounting for the majority of transactions. Using data from...
New data from Landbank Analytics has mapped the highest-demand residential areas across Cyprus’s districts for the period January to September 2024, based on analysis of sale contracts filed with the Department of Lands and Surveys. “Our analysis aims to capture the island-wide interest in residential properties and track which areas are gaining or losing momentum”, said Landbank Group CEO...
Rental property investments in Cyprus are generating significantly higher returns than bank deposits, with rental yields ranging from 4 to 6 per cent compared to the average bank deposit rate of 1.98 per cent for one-year household deposits, according to October data. Property consultancy Danos International reports that Limassol, which has seen the highest rent increases in recent months, offers...
The number of Cyprus property sales achieved in October rose by 12 compared with the numbers sold in the same month last year according to official statistics published by the Department of Lands and Surveys. The total number of Cyprus property sales (as measured by the number of sales contracts deposited in Land Registry offices in the free areas of the island) stood at 1,318; an increase of 1% on the...
With the price of rentals surging across Cyprus, affecting both high-end and budget-friendly areas, the Interior Ministry has announced measures to address rising housing costs. Interior Minister Constantinos Ioannou has unveiled a new housing initiative, “Renovate – Rent“, which is designed to increase affordable rentals by bringing vacant properties back into the market. The scheme...
A recent announcement by the Ministry of Interior shows a strong rise in property sales, which indicates high demand. However, the report also raises a note of caution for the future of the property market, particularly in 2025. Industry experts warn that this high demand, coupled with limited supply and delays in new properties entering the market is paving the way for price increases. The...
According the Department of Land and Surveys, mortgages were granted for 7,212 properties worth €1.94 billion during the January-August period, compared to 7,313 properties worth €1.98 billion during the same period last year. This represents a 1.38% decrease in the number of properties mortgaged, while the value of the properties decreased by 2.16%. Mortgages by month Based on information...
The government’s priorities for the coming years include promoting and completing new tourism projects, in particular the development of new golf courses and marinas. The Deputy Ministry of Tourism‘s 2025 budget, totalling €65.6 million, has already allocated funds for tourism projects. 2025 budget tourism allocations According to the Deputy Ministry’s strategic plan for 2025-2027, the...