About 3000 property deals of residential real estate were completed in Cyprus in 2014, half of which turned to be for the sales of apartments.
According to figures released by Cyprus Economic Intelligence (CEI) 1300 houses and 2000 apartments were sold in the first half of the year. From the first and third quarters of the year 2014 the average price for the luxury apartments has rose in average to 70 000 Euros for each property.
The CEI experts strongly believe that such increase in rise was caused primarily by governmental programs that enable property buyers to obtain a resident permit for the purchase of real estate. Meanwhile, sales of land (fields and building plots) accounted for a quarter of all transactions and commercial properties accounted for only 4%.