The cumulative value of sales documents filed across the country reached an impressive €1 billion, illustrating the property market's sustained momentum despite facing various challenges.

As detailed in the quarterly newsletter of the Real Estate Agents Registration Council, which analyses data from the Department of Land and Surveys, a total of 2,983 sales documents were filed nationwide from July to September.

The Council's data reveals that 2,910 property transfers, valued at €438.2 million, were completed in the third quarter. Limassol led in terms of value, with transactions totaling €130.5 million, while Nicosia recorded the highest number of transfers.

Specifically, Nicosia District saw 944 transfers worth €126.1 million. The bulk of these transactions involved land (382), apartments (218), and plots (213). In the Limassol District, a total of 801 sales reached €130.5 million, surpassing other districts, with land sales (440) drawing particular interest.

In the Paphos District, the third quarter saw 315 sales, totaling €48.2 million, predominantly in land (125). Sales in Larnaca were impressive too, with 677 transactions amounting to €101 million, mainly in land (290). The Famagusta District witnessed 173 sales valued at €32.4 million, with a focus on land (81) and apartments (51).

Marinos Kineyirou, Chairman of the Real Estate Agents Registration Council, noted the sector's resilience across all cities and districts. "Despite the noticeable impact of inflation on consumer purchasing power and high mortgage rates, the real estate market remains robust. We anticipate the upcoming months will reveal the effects of the conflict in Israel on the market," he concluded.