Real Estate Market Trends: Pancyprian February 2024 vs February 2023
The real estate landscape in Cyprus continues to demonstrate resilience and growth. Recent statistics painting a picture of optimism and opportunity for both investors, home buyers and homeowners alike. According to the latest data, the market has witnessed notable increases across various metrics, indicating a dynamic sector.
Total Number of Parcels-Transfers:
The total number of parcels stands at an impressive 1688, representing a significant increase of 14% compared to February 2023. This surge in parcel numbers underscores the growing interest and demand for properties across Cyprus, reflecting the attractiveness of the market to both domestic and international buyers.
Total Declared Amount-Transfers:
Along with the rise in parcel transfers, the total declared amount for the same, has surged to €314,773,828, marking a substantial increase of 21%. This substantial growth in transaction value highlights the robust nature of the market.
Total Number of Registered Contracts of Sale (CoS):
The number of registered Contracts of Sale (CoS) has reached 1284, reflecting a commendable growth rate of 14%. This metric serves as a crucial indicator of the volume of real estate market as it reflects to the most recent data, cementing Cyprus' position as a regional hotspot.
Buyers within and outside EU(CoS):
An interesting metric of the latest statistics is the distribution of buyers across EU and non-EU regions. Within the EU, the number of buyers with registered CoS stands at 168, signaling a notable increase of 29%. This surge in EU-based buyers highlights the appeal of Cyprus' real estate to individuals within the European Union.
Conversely, outside the EU, there has been a more modest yet still noteworthy increase, with 466 buyers registering CoS, representing a 3% rise. This demonstrates a continued interest from non-EU buyers.
Total No: Parcels:1688 | +14%
Total Declared Amount: €314,773,828 | +21%
Total No. of Registered CoS: 1284 I +14%
Number of Buyers with Registered CoS within EU: 168 I +29%
Number of Buyers with Registered CoS outside EU: 466 I +3%