Cyprus’ actual property market demonstrated outstanding resilience and suppleness in 2023 and the whole worth of transactions reached 5.5 billion euros, which seems to be on the identical ranges as in 2022, in keeping with a latest report.
PwC Cyprus introduced final Thursday its annual report for the Cypriot actual property market, by which it discovered, amongst different issues, that transactions within the district of Larnaca elevated 22% in worth phrases, whereas within the district of Pafos they rose 4% year-on-year.
The transaction worth of the residential property sector reached roughly €3.9 billion, representing a 1% lower in 2023 in comparison with 2022.
A complete of 6,900 properties throughout Cyprus have been acquired by overseas patrons throughout 2023, recording an annual enhance of 16% (from 5,928 in 2022).
The high-end residential property section confirmed a special image, with a notable drop in 2023, because the evaluation of transaction knowledge for single residential properties with a value as much as €1.5 million indicated a big lower of 26% in comparison with 2022.
The info counsel {that a} complete of 164 transactions have been recorded in 2023 on this section, with a complete worth of €440 million.
