Cyprus realty sales reach €6 bln in 2022

Cyprus realty sales reach €6 bln in 2022

The value of real estate sold in Cyprus during 2022 approached 6 billion euros, according to the comparative real estate sales of the Department of Land and Surveys as processed and presented in the quarterly “Real Estate Market Bulletin” of Cyprus Real Estate Registration Council.

As stated in a press release of the council, “against the challenges the real estate sector showed resilience and dynamism, which is reflected in the clearest way in the comparative sales of real estate by the Department of Land and Surveys.”

According to the data, 22,129 transactions with a total value of €5.85 billion were recorded throughout Cyprus in 2022. The fourth quarter of 2022 was the best of the year as properties worth €1.7 billion were sold in a total of 5,883 transactions. In the third quarter of 2022 transactions worth €1.65 billion were recorded, in the second quarter sales amounted to €1.2 billion and the first quarter they came to €1.3 billion.

The president of the Registration Council of Real Estate Agents, Marinos Kineyirou, pointed out that “the real estate sector managed to grow and develop in an extremely difficult period.”

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