In our pending Real Estate Property Index, we have included several statistical information, which could be of interest. This statistical information refers to the location preference and the nature of the buyers budgets.
Approximately 20% of the total real estate demand in Cyprus comes from abroad. This is a large percentage, especially bearing in mind the foreign people concentration in certain locations.
45% of the foreign residents are concentrated in Paphos 20% of the foreign residents are concentrated in Limassol 20% of the foreign residents are concentrated in Larnaca 14% of the foreign residents are concentrated in Famagusta 1%of the foreign residents are concentrated in Nicosia
Out of the 20% the various nationalities have different likings regarding locations.
PAPHOS
LIMASSOL
LARNACA
FAMAGUSTA
2005
2006
2005
2006
2005
2006
2005
2006
British
50%
45%
20%
15%
15%
20%
15%
20%
Yugoslavs
---
---
100%
100%
---
---
---
---
Germans
10%
---
90%
100%
---
---
---
---
Russians
20%
20%
60%
55%
10%
15%
10%
10%
Arabs
10%
10%
80%
80%
10%
10%
---
---
Cypriot
15%
15%
10%
10%
30%
30%
45%
45%
These trends are also expected to alter after the year 2007- 2009, pending the development of the new marinas in Polis and Coral Bay and the new golf courses, again in the Polis area, Paphos.
In termsof budgets, we have noted the following (in thousand pounds).
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