Rebound in home sales in Cyprus
The number of housing transactions in Cyprus increased by 27.4% in 2022 compared to 2021, which was the largest increase recorded in 16 EU countries for which data is available, according to information released by Eurostat, the statistical service of the EU.
In 2022, the number of housing transactions, when compared with 2021, decreased in the majority of the 16 EU countries for which data are available. This decrease comes after an increase in nearly all countries in 2021 compared with 2020.
The largest decreases in the number of transactions in 2022 were recorded in Denmark (-31.6%), Finland (-16.6%), the Netherlands (-16.2%) and Luxembourg (-15.1%), while the highest increases were registered in Cyprus (+27.4%), Ireland (+7.7%) and Spain (+6%).
Since Covid-19 started, the housing market has been volatile. In 2020, there was a general drop in housing transactions due to lockdown measures, with only four of the EU states covered (Denmark, Finland, the Netherlands and Austria) registering an increase in sales. This was followed by a period of growth in 2021, with sales going up in most of the 16 EU states covered.
