The trend for new housing sales continues to rise, with apartments leading compared to houses. According to data from the Department of Land and Surveys (DLS), sales increased by 19.2% in the first nine months of 2024 compared to the same period last year. Specifically, during the January-September 2024 period, 5,253 sales contracts for residential properties were filed, of which 4,335 were for apartments and 918 for houses. This trend is observed across all districts, with the highest percentage increase recorded in areas without significant investment interest from foreign buyers.

The shift toward purchasing apartments, with a nationwide increase of nearly 30%, contrasts with the decline in house sales (-9.2% compared to the period from 1-9/2023). This trend is particularly linked to young people and young families, influenced by housing costs and the difficulty of securing loans for the higher capital required to purchase a house. At the same time, as shown by the geographical distribution of new purchases, especially concerning Nicosia, a large number of citizens have utilized housing assistance through revised schemes aimed at revitalizing mountainous, border, and disadvantaged areas, as well as rural regions.

Meanwhile, the Ministry of Interior has developed and is implementing a comprehensive housing policy aimed at increasing affordable housing stock through a series of measures that provide more options for citizens, especially those belonging to the middle and low-income brackets.

These initiatives include schemes for allocating plots to families with low and moderate incomes, providing financial assistance to young individuals and young couples up to 41 years old, and further enhancing housing schemes for revitalizing mountainous, border, and disadvantaged areas, as well as rural regions, aiming to strengthen citizens’ ability to acquire their own home. Additionally, initiatives such as the "Renovate-Rent" scheme, urban planning incentives, and the "Build to Rent" scheme are underway or being immediately launched, injecting the market with additional housing stock at affordable rental or sales prices, which will further boost housing sales in the medium term.