Cyprus Real Estate

Real Estate Transactions in Cyprus During and Post Lockdown

In accordance with official data released by the Department of Lands and Surveys of the Republic of Cyprus it can be inferred that Covid-19 had a significant effect in real estate transactions.

It should be noted at the outset that the Department of Lands and Surveys bases its findings in accordance with the number of contracts lodged with the Land Registry. It might well be that there could also be other transactions which are currently under negotiation / or not yet finalised. The findings are based on a comparison of each month of the previous year. These are as follows:

  • March 2020 – EU buyers(decrease of 31,15% from March 2019)
  • March 2020 – Non EU buyers(decrease of 37,32% from March 2019)
  • April 2020 – EU buyers (decrease of 63,92% from April 2019)
  • April 2020 – Non EU buyers (decrease of 76,28% from April 2019)
  • May 2020 – EU buyers (decrease of 57,37% from May 2019)
  • May 2020 – Non EU buyers (decrease of 78,16% from May 2019)
  • June 2020 – EU buyers (decrease of 56,14% from June 2019)
  • June 2020 – Non EU buyers (decrease of 39,28% from June 2019)
  • July 2020 – EU buyers (decrease of 27,36% from July 2019)
  • July 2020 – Non EU buyers (decrease of 40,49% from July 2019)
  • August 2020 – EU buyers (decrease of 29,28% from August 2019)
  • August 2020 – Non EU buyers (decrease of 30% from August 2019)

The majority of contracts filed by non- Cypriot buyers were in Limassol and Paphos.

Irrespective of these disappointing numbers, investors might be well placed in examining possible opportunities arising from the current climate.

Prior to purchasing any property it is of course of major importance that you consult with a Cypriot Lawyer in order to proceed with a due diligence on the property and of course to be properly represented during the whole conveyancing process.

For further information and clarifications please contact us via email at or via telephone +357 22262108