New mortgages valued at €2.5 billion were recorded over the first nine months of 2019, reflecting the state of play of real estate in Cyprus.
Nicosia and Limassol are the two cities with the highest number of purchased property. Specifically, Nicosia recorded 332 new mortgages in January with a total value of €78.99 million. Limassol recorded 227 mortgages with a total value of €42.27 million.
Famagusta district was a surprise in January with a total of 63 mortgages whose value was €52.77 million. All in all, 851 mortgages amounting to €212.15 million were recorded island-wide.
In February, a total of 881 mortgages worth €172.15 million were recorded in Nicosia and Limassol – €60.05 million and €51 million respectively. In Famagusta, 48 mortgages were recorded at a total value of €21.45 million, Larnaca had a total of 117 at a total value of €13.25 million, Paphos had 112 mortgages at the total value of €172.15 million.
In March, the total number of mortgages was 1,359 at the overall value of €259.93 million. Nicosia recorded 495 mortgages valued at €90.66 million, followed by Limassol with 346 worth €74.05 million. The mortgage value remained stable in April at a total of €259.37 million.
Nicosia had the lion’s share with 535 mortgages worth €97.98 million, followed by Limassol with 445 mortgages valued €70.08 million and Larnaca was third with 320 mortgages valued €44.22 million. Paphos recorded 204 mortgages worth €18.19 million and Famagusta district had 94 mortgages worth €28.88 million.
In May, total mortgages recorded were 1,602 valued at €272.46 million. Nicosia was a surprise with 658 mortgages worth €119.80 million, followed by Limassol with 376 mortgages and €69.95 million, Larnaca came third with 276 mortgages valued at €41.10 million and then Paphos with 191 mortgages at the value of €30.30 million.
In June, the value of mortgages remained stable at €272.53 million. The total number of mortgages were 1,384. The surprise this month was Limassol with 437 mortgages worth €120.82 million. Nicosia followed with 481 mortgages worth €83.78 million.
July was the month with the highest mortgage value which reached €390.08 million with a total of 1,482 mortgages. Nicosia recorded 549 mortgages at the total value of €184.92 million, followed by Limassol with an overall mortgage value of €91.12 million.