The Cyprus real estate market in 2024 maintained the performance of the previous year. According to the Land Department, 19,155 real estate transactions worth 4.3 billion euros and 15,797 purchase and sale agreements were registered.
The number of real estate purchase and sale agreements increased by 1.5%.
The president of the Real Estate Registration Council, Marinos Kineiro, said that the year ended with a slight increase, despite concerns about a possible downturn in the market that took place in the first half of the year.
Risk factors include: declining purchasing power, high interest rates on loans, rising cost of building materials due to geopolitical instability in the region and consistently high real estate prices.
Queiroz believes that these difficulties are expected in 2025, but lower interest rates on bank loans can improve market conditions and benefit the economy as a whole.
A source: in-cyprus
