{"id":112573,"date":"2025-04-22T20:14:42","date_gmt":"2025-04-22T17:14:42","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=112573"},"modified":"2025-04-22T20:14:42","modified_gmt":"2025-04-22T17:14:42","slug":"real-estate-still-a-key-driver-of-growth-in-2024-despite-market-pressures","status":"publish","type":"post","link":"https:\/\/lamaisonestates.com\/ru\/real-estate-still-a-key-driver-of-growth-in-2024-despite-market-pressures\/","title":{"rendered":"Real Estate Still a Key Driver of Growth in 2024, Despite Market Pressures"},"content":{"rendered":"<p class=\"\" data-start=\"304\" data-end=\"658\">Cyprus&#8217; real estate sector stayed resilient through 2024, continuing to fuel the country\u2019s economy even in the face of multiple economic and geopolitical headwinds. According to a press release by the Real Estate Agents Registration Council, property activity held steady compared to 2023, with some regions even seeing notable shifts in performance.<\/p>\n<h3 class=\"\" data-start=\"665\" data-end=\"714\">The Big Picture: Slight Upticks, Some Drops<\/h3>\n<p class=\"\" data-start=\"716\" data-end=\"1055\">Over the course of 2024, Cyprus recorded 19,155 property transfers worth a total of \u20ac4.3 billion, while 15,797 sales documents were filed nationwide. Compared to the previous year, that\u2019s a modest 1.8% rise in transfers and a 1.5% increase in sales documents. However, the overall value of transfers dipped by 2.3%.<\/p>\n<p class=\"\" data-start=\"1057\" data-end=\"1288\">These fluctuations are largely attributed to several ongoing challenges, including higher construction costs, elevated lending interest rates, reduced consumer purchasing power, and the impact of regional conflicts.<\/p>\n<h3 class=\"\" data-start=\"1295\" data-end=\"1327\">Region-by-Region Breakdown<\/h3>\n<p class=\"\" data-start=\"1329\" data-end=\"1384\">Let\u2019s take a quick look at how each district performed:<\/p>\n<h4 class=\"\" data-start=\"1386\" data-end=\"1408\">\ud83d\udd39 <strong data-start=\"1394\" data-end=\"1406\">\u041b\u0438\u043c\u0430\u0441\u0441\u043e\u043b<\/strong><\/h4>\n<ul data-start=\"1409\" data-end=\"1546\">\n<li class=\"\" data-start=\"1409\" data-end=\"1454\">\n<p class=\"\" data-start=\"1411\" data-end=\"1454\"><strong data-start=\"1411\" data-end=\"1430\">Sales documents<\/strong>: 5,032 (\ud83d\udcc9 down 1.2%)<\/p>\n<\/li>\n<li class=\"\" data-start=\"1455\" data-end=\"1494\">\n<p class=\"\" data-start=\"1457\" data-end=\"1494\"><strong data-start=\"1457\" data-end=\"1470\">Transfers<\/strong>: 5,054 (\ud83d\udcc9 down 5.8%)<\/p>\n<\/li>\n<li class=\"\" data-start=\"1495\" data-end=\"1546\">\n<p class=\"\" data-start=\"1497\" data-end=\"1546\"><strong data-start=\"1497\" data-end=\"1515\">Transfer value<\/strong>: \u20ac1.5 billion (\ud83d\udcc9 down 6.3%)<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"1548\" data-end=\"1657\">Despite a decline in volume and value, Limassol still pulled in the highest total property value in 2024.<\/p>\n<h4 class=\"\" data-start=\"1659\" data-end=\"1680\">\ud83d\udd39 <strong data-start=\"1667\" data-end=\"1678\">\u041d\u0438\u043a\u043e\u0441\u0438\u044f<\/strong><\/h4>\n<ul data-start=\"1681\" data-end=\"1805\">\n<li class=\"\" data-start=\"1681\" data-end=\"1717\">\n<p class=\"\" data-start=\"1683\" data-end=\"1717\"><strong data-start=\"1683\" data-end=\"1702\">Sales documents<\/strong>: \ud83d\udcc8 up 13.6%<\/p>\n<\/li>\n<li class=\"\" data-start=\"1718\" data-end=\"1755\">\n<p class=\"\" data-start=\"1720\" data-end=\"1755\"><strong data-start=\"1720\" data-end=\"1733\">Transfers<\/strong>: 5,395 (\ud83d\udcc8 up 5.8%)<\/p>\n<\/li>\n<li class=\"\" data-start=\"1756\" data-end=\"1805\">\n<p class=\"\" data-start=\"1758\" data-end=\"1805\"><strong data-start=\"1758\" data-end=\"1776\">Transfer value<\/strong>: \u20ac950 million (\ud83d\udcc8 up 1.4%)<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"1807\" data-end=\"1914\">Nicosia stood out for its stable, consistent growth, topping the list for number of property transfers.<\/p>\n<h4 class=\"\" data-start=\"1916\" data-end=\"1936\">\ud83d\udd39 <strong data-start=\"1924\" data-end=\"1934\">\u041f\u0430\u0444\u043e\u0441<\/strong><\/h4>\n<ul data-start=\"1937\" data-end=\"2062\">\n<li class=\"\" data-start=\"1937\" data-end=\"1974\">\n<p class=\"\" data-start=\"1939\" data-end=\"1974\"><strong data-start=\"1939\" data-end=\"1958\">Sales documents<\/strong>: \ud83d\udcc9 down 7.9%<\/p>\n<\/li>\n<li class=\"\" data-start=\"1975\" data-end=\"2011\">\n<p class=\"\" data-start=\"1977\" data-end=\"2011\"><strong data-start=\"1977\" data-end=\"1990\">Transfers<\/strong>: 3,727 (\ud83d\udcc8 up 12%)<\/p>\n<\/li>\n<li class=\"\" data-start=\"2012\" data-end=\"2062\">\n<p class=\"\" data-start=\"2014\" data-end=\"2062\"><strong data-start=\"2014\" data-end=\"2032\">Transfer value<\/strong>: \u20ac983 million (\ud83d\udcc8 up 21.7%)<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"2064\" data-end=\"2160\">Paphos saw a significant jump in both volume and value, despite fewer sales filings overall.<\/p>\n<h4 class=\"\" data-start=\"2162\" data-end=\"2183\">\ud83d\udd39 <strong data-start=\"2170\" data-end=\"2181\">Larnaka<\/strong><\/h4>\n<ul data-start=\"2184\" data-end=\"2361\">\n<li class=\"\" data-start=\"2184\" data-end=\"2208\">\n<p class=\"\" data-start=\"2186\" data-end=\"2208\"><strong data-start=\"2186\" data-end=\"2199\">Transfers<\/strong>: 3,775<\/p>\n<\/li>\n<li class=\"\" data-start=\"2209\" data-end=\"2245\">\n<p class=\"\" data-start=\"2211\" data-end=\"2245\"><strong data-start=\"2211\" data-end=\"2229\">Transfer value<\/strong>: \u20ac637 million<\/p>\n<\/li>\n<li class=\"\" data-start=\"2246\" data-end=\"2281\">\n<p class=\"\" data-start=\"2248\" data-end=\"2281\"><strong data-start=\"2248\" data-end=\"2267\">Sales documents<\/strong>: \ud83d\udcc8 up 5.4%<\/p>\n<\/li>\n<li class=\"\" data-start=\"2282\" data-end=\"2322\">\n<p class=\"\" data-start=\"2284\" data-end=\"2322\"><strong data-start=\"2284\" data-end=\"2306\">Transfers (volume)<\/strong>: \ud83d\udcc9 down 1.7%<\/p>\n<\/li>\n<li class=\"\" data-start=\"2323\" data-end=\"2361\">\n<p class=\"\" data-start=\"2325\" data-end=\"2361\"><strong data-start=\"2325\" data-end=\"2346\">Transfers (value)<\/strong>: \ud83d\udcc9 down 13%<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"2363\" data-end=\"2474\">Larnaka\u2019s numbers reveal a mixed picture\u2014higher sales, but lower overall value and volume of transfers.<\/p>\n<h4 class=\"\" data-start=\"2476\" data-end=\"2499\">\ud83d\udd39 <strong data-start=\"2484\" data-end=\"2497\">\u0424\u0430\u043c\u0430\u0433\u0443\u0441\u0442\u0430<\/strong><\/h4>\n<ul data-start=\"2500\" data-end=\"2641\">\n<li class=\"\" data-start=\"2500\" data-end=\"2552\">\n<p class=\"\" data-start=\"2502\" data-end=\"2552\"><strong data-start=\"2502\" data-end=\"2521\">Sales documents<\/strong>: \ud83d\udcc9 down 4.5% (775 in total)<\/p>\n<\/li>\n<li class=\"\" data-start=\"2553\" data-end=\"2590\">\n<p class=\"\" data-start=\"2555\" data-end=\"2590\"><strong data-start=\"2555\" data-end=\"2568\">Transfers<\/strong>: 1,204 (\ud83d\udcc8 up 3.8%)<\/p>\n<\/li>\n<li class=\"\" data-start=\"2591\" data-end=\"2641\">\n<p class=\"\" data-start=\"2593\" data-end=\"2641\"><strong data-start=\"2593\" data-end=\"2611\">Transfer value<\/strong>: \u20ac214 million (\ud83d\udcc9 down 19%)<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"2643\" data-end=\"2740\">Famagusta struggled the most this year, with both sales and transfer values taking a notable dip.<\/p>\n<h3 class=\"\" data-start=\"2747\" data-end=\"2767\">Final Thoughts<\/h3>\n<p class=\"\" data-start=\"2769\" data-end=\"3011\">Even with declining buying power and rising costs, Cyprus\u2019 real estate industry continued to provide economic momentum in 2024. While regional performance varied, the overall market showed resilience in the face of global uncertainty.<\/p>\n<p class=\"\" data-start=\"3013\" data-end=\"3100\"><em>Source: stockwatch.com.cy<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Cyprus&#8217; real estate sector stayed resilient through 2024, continuing to fuel the country\u2019s economy even in the face of multiple economic and geopolitical headwinds. According to a press release by the Real Estate Agents Registration Council, property activity held steady compared to 2023, with some regions even seeing notable shifts in performance. The Big Picture: [&hellip;]<\/p>","protected":false},"author":9,"featured_media":112574,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/112573"}],"collection":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=112573"}],"version-history":[{"count":1,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/112573\/revisions"}],"predecessor-version":[{"id":112575,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/112573\/revisions\/112575"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/112574"}],"wp:attachment":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=112573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=112573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=112573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}