Key findings:
- The total number of ongoing transactions increased by 6.3% compared to the same period last year, while completed transactions grew by 1%.
- From January to September 2024, 11,634 sales contracts were signed, and 14,074 transactions were fully completed.
Q3 2024 dynamics:
- The number of completed transactions decreased by 2.7%, amounting to 4,700, with a total value of €1.05 billion, which is 5.5% lower than in the second quarter.
- Meanwhile, the number of ongoing transactions increased by 3.1%, reaching 4,081.
Regional data (January to September):
- The largest growth in ongoing transactions was recorded in Nicosia (+20%), Larnaca (+6%), and Famagusta (+1%).
- A decline in ongoing transactions was observed in Paphos (-12%) and Limassol (-4%).
Expert comment:
The President of the Real Estate Agents Registration Board, Marinos Kinaigeirou, emphasized the market's resilience: “Despite a decline in completed transactions, the increase in sales contracts supports optimism. The anticipated reduction in interest rates may boost local transactions."
