The market of luxury housing in Cyprus is experiencing a real boom

Since 2010, the average number of sales transactions in the elite sector has stably been at the level of 40-50 per year. A sharp increase was recorded in 2016 - 179 transactions and continued in 2017, reaching a mark of 260.Under the elite housing we mean real estate from 1.5 million and more. By the way, the construction of a premium class housing in Cyprus is not lagging behind demand.

Unique complexes of villas and apartments are being built, filling the segment of the "club" housing market. This growth in demand could be partly explained by the program of residence permits and citizenship of Cyprus. Therefore, real estate, the value of which will help to consolidate the status of a resident, is and will be in highly appreciated. If talk about regions, Limassol takes the first place, followed by Paphos. Nicosia is still in less demand - in our view, undeservedly.