MOST PROPERTY MORTGAGES TAKE PLACE IN LIMASSOL AND NICOSIA, SAYS STUDY

 

As the world is returning to a sense of normal in the wake of the COVID-19 pandemic, citizens are now beginning to go back to getting loans and mortgaging their properties.

 

Within this context, a study by the Land and Survey Department has revealed that Limassol and Nicosia have the largest numbers of mortgages in the island nation.

 

The study says that as of September 2021, Nicosia had 581 mortgages (worth 84.73 million), in comparison to 2020’s 535 mortgages (worth 112.48 million.

 

Meanwhile, Limassol showed higher numbers in terms of worth, with 373 mortgages (worth 99.78 million), compared to last year’s 484 mortgages (worth 113.01 million).

 

Other districts had varying numbers – Larnaca had 238 mortgages (worth 30 million) in comparison to 278 mortgages (worth 36.73 million) in 2020. Paphos had 133 mortgages (worth 18.09 million) compared to last year’s (23.35 million), while Famagusta has the lowest number of mortgages – 72 (worth 16.34 million) this year in comparison to last year’s 77 mortgages (worth 9.94 million).