Recent developments in the Cyprus property market have highlighted a significant shift in buyer interest toward the occupied territories, with pricing identified as a key driver, rather than the ongoing conflict in Israel, according to the Cyprus Real Estate Agents Council.
Council president Marinos Kineyirou explained that foreign buyer interest has notably influenced the Cypriot property market over the past few years.
In this context, he noted that following the Covid-19 pandemic, the interest from foreign buyers had played a substantial role in revitalising the market after a period of profound crisis.
“Interest from foreign buyers has supported the Cypriot real estate market in recent years,” Kineyriou said.
“It wouldn’t be an exaggeration to say that after the Covid-19 pandemic, the interest of foreign buyers provided a significant boost to the market and contributed significantly to its recovery after the strong shock it had suffered,” he added.
Analysing comparative property sales data on a quarterly basis, as presented by the Real Estate Agents Council, Kineiyrou pointed out that property sales in Cyprus had seen a consistent upward trend over the nine-month period of 2023.
However, he highlighted a significant recent shift, indica