Paphos People

Luxury properties valued above €400,000 were the driving force in Paphos’ housing market in 2022
Cypriot firm Ask Wire on Thursday released a report examining the Paphos property market for 2022, including an analysis of all apartment and house sales in the district during that period of time.

“This provides a comprehensive snapshot of the market situation, reflecting the prevailing trends,” the company said.

In addition to the number of sales, Ask Wire, which specialises in the blending of real estate knowledge with the use of advanced technology and analytics, also presented the values of all sold properties.

According to the report, the apartment market in the Paphos district slightly outweighs the housing market. In total, 1,652 apartments were sold in Paphos in 2022, while 1,504 houses were sold during the same time.

“2022 was a year of great momentum for the Paphos market,” Ask Wire CEO Pavlos Loizou said.

“The housing markets have returned to pre-citizenship investment programme collapse levels, while apartment markets have reached their highest levels since at least 2016,” he added.

The market for apartments up to €160,000 accounted for the largest volume of sales (1,218) in Paphos during the previous year.

FULL Story:- https://cyprus-mail.com/2023/06/08/paphos-real-estate-market-sees-surge-in-luxury-properties/

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