Interest in real estate in Cyprus has grown by 30%
In 2020, due to the COVID-19 pandemic, there was a drop in the demand for real estate in Cyprus. At the same time, the Cypriot authorities canceled the corresponding investment program, which led to a drop in prices for commercial real estate.
In August 2021, experts noted an increase in demand and an increase in prices. According to the Cyprus Land Department, more than 700 real estate purchase and sale contracts were concluded in August, which is 30% more than in August last year.
In total, over the first 8 months of this year, 6 thousand transactions were recorded, while over the same period in the „„pre-coranavirus““ year of 2019, there had been over 7 thousand recorded transactions. According to experts, these figures indicate a recovery in purchasing power and an increase in buyers’ interest in Cypriot real estate.