Saturday, Jun 25, 2022

Real Estate Dynamics in Cyprus | FY 2021 Results

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Author : Zafeiria Stathogiannakou
  • January 19, 2022
2021 was a year defined by the many ongoing consequences of COVID-19. The world got vaccinated, but not in equal measure. The island of Cyprus was suffering from multiple waves of COVID-19 infections, however, the housing market of Cyprus gradually returned to pre-COVID level. In particular, the transfers of sales increased slightly by 5.1% in 2021 compared to 2019. Likewise, the amount of mortgages totaled €5,492 bn, up by 77.4%. However, even if the Cypriot real estate market is recovering, the amount of mortgages dropped slightly by 3.6%, whilst, the contracts of sales fell by 0.2% over the same period compared to 2019.