In the latest report by PwC, it was noted that the real estate market in Cyprus demonstrated incredible stability and flexibility in 2023. The total transaction volume reached €5.5 billion, remaining consistent with the previous year.
Key Facts:
In the Larnaca region, sales volume increased by 22%, while in Paphos, it rose by 4% on an annual basis.
Transactions involving residential properties amounted to approximately €3.9 billion, representing a 1% decrease compared to 2022.
Foreign buyers acquired a total of 6,900 properties in Cyprus in 2023, marking a 16% increase from the previous year.
Elite Segment:
The luxury real estate segment experienced a decline of 26% compared to 2022. In 2023, 164 transactions were registered, totaling €440 million.
