VLT HIGH-END PROPERTIES LTD Reg. No. 870 & Licence No. 435/E

 

Introduction:

The real estate market in Cyprus has seen steady growth in recent years, with an increase in both property prices and the number of sales. This report provides an overview of the current market trends, average property prices, and other relevant statistics for property sales in Cyprus.

Current Market Trends:

  • The number of property sales in Cyprus has been increasing over the past few years, with particularly strong growth in the second half of the year.
  • The majority of property sales are still concentrated in the coastal areas, such as Limassol, Paphos, and Larnaca, but there is also a growing interest in the Troodos Mountains area.
  • The demand for luxury properties and holiday homes is increasing, particularly among foreign buyers.
  • The market for rental properties is also growing, with an increase in demand for both short-term and long-term rentals.

Average Property Prices:

  • The average price of an apartment in Cyprus is €250,000.
  • The average price of a luxury villa in Cyprus is €800,000.
  • The average price of a holiday home in Cyprus is €300,000.

Other Statistics:

  • The majority of property buyers in Cyprus are foreign nationals, with the largest number coming from the UK, Russia, and Greece.
  • The majority of property sales are still made in cash, but there is a growing trend toward mortgage financing.
  • The average time to complete a property sale in Cyprus is currently around 3-6 months.

Conclusion:

The real estate market in Cyprus is currently experiencing steady growth, with an increase in both property