Cyprus Business Now

A third of all real estate transactions in Nicosia during the first quarter of 2022 concerned apartments, according to a report by the Council for Registration of Real Estate Agents published on Friday.

The first quarter saw 1,574 real estate transactions taking place in the capital, including transfers and sales, 536 of which involved apartments.

The Nicosia Municipality, Strovolos and Lakatamia saw the lion’s share of transactions, with 105, 105 and 99 respectively.

These were followed by Aglantzia with 93, Latsia with 63, and Engomi with 62 real estate transactions.

Agios Dometios saw the fewest transactions with just 24 being completed during this time.

Meanwhile, out of all Nicosia areas, regardless of which council they fell under, Agios Demetrios in Strovolos saw the highest number of transactions with 56.

This was followed by Agioi Omologites with 36 and Chryseleousa with 32.

The average value of transactions in the district of Nicosia during the first quarter was €158,703.

“The Council for Registration of Real Estate Agents will continue to regularly publish its findings in order to increase transparency and provide useful information to buyers,” council president Marinos Kineyirou said.

“Given that the demand for apartments in the capital is constantly growing, we believe that this data will help all involved, professionals and non-professionals, to have a more complete view of the situation in the market,” he added.

Cyprus and Greece will explore common business and investment opportunities, as well as the scope for synergies and collaborative initiatives, at a conference that will take place in Athens on Saturday.

The Cyprus Business Summit is being held under the auspices of the Cypriot and Greek Ministries of Finance, the Deputy Ministries of Tourism of both countries, the Hellenic Federation of Enterprises (Sev, as well as Cyprus’ Employers and Industrialists Federation (Oev).

The summit will be structured around four major categories, with each one containing a series of seminars and talks.

These include technology and public administration, tourism, the maritime and shipping industry, as well as investments and fiscal policy.

Finally, officials from both countries attending the summit will also sign a number of Memoranda of Understanding (MoUs).

The Cyprus Stock Exchange (CSE) ended Friday, May 6 with losses.

The main Cyprus Stock Market Index was at 68.77 points at 13:00 during the day, reflecting a drop of 1.04 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.34 points, reflecting a decrease of 1.05 per cent over the previous day of trading.

The total value of transactions came up to €86,929.

In terms of the sub-indexes, the main and alternative indexes fell by 0.93 per cent and 0.76 per cent respectively.

The investment firm and hotel indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.95 per cent), the Cyprus Cement Company (-4.69 per cent), Logicom (-0.51 per cent), Petrolina (no change) and Hellenic Bank (no change).