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23rd May 2022
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HomeProperty SalesApartments made up a third of real estate transactions

Apartments made up a third of real estate transactions

A third of all real estate transactions in Nicosia during the first quarter of 2022 concerned apartments, according to a report by the Council for Registration of Real Estate Agents published on Friday.

The first quarter saw 1,574 real estate transactions taking place in the capital, including transfers and sales, 536 of which involved apartments.

The Nicosia Municipality, Strovolos and Lakatamia saw the lion’s share of transactions, with 105, 105 and 99 respectively.

These were followed by Aglantzia with 93, Latsia with 63, and Engomi with 62 real estate transactions.

Agios Dometios saw the fewest transactions with just 24 being completed during this time.

Meanwhile, out of all Nicosia areas, regardless of which council they fell under, Agios Demetrios in Strovolos saw the highest number of transactions with 56.

This was followed by Agioi Omologites with 36 and Chryseleousa with 32.

The average value of transactions in the district of Nicosia during the first quarter was €158,703.

“The Council for Registration of Real Estate Agents will continue to regularly publish its findings in order to increase transparency and provide useful information to buyers,” council president Marinos Kineyirou said.

“Given that the demand for apartments in the capital is constantly growing, we believe that this data will help all involved, professionals and non-professionals, to have a more complete view of the situation in the market,” he added.

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