High demand for Cyprus properties

The high demand in the Cypriot real estate sector is in the process of being met with numerous high-value investments, with the Limassol district taking the lion’s share, the Real Estate Agents Registration Council said on Thursday.

The council noted that Limassol accounted for 46.5% of the total value of transactions in Cyprus during the first half of 2022.

Data from sales and the submission of property transfer documents showed a total value of approximately €126 million. The average selling price was approximately €280,000, ranging from less than €100,000 to over €1 million.

There were approximately 50 transactions involving residential properties, many of them luxury units, with a total value of €37 million. The average sale price was €770,000.

[Cyprus Mail]