PwC Releases Report on Cyprus Real Estate Market for 2023

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.

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