According to the S1 2024 Market Insight Report by Danos International Property Consultants & Valuers, the real estate game in Cyprus is shifting gears — big time. The report forecasts that Millennials (Gen Y) and Gen Z will make up 70% of real estate customers by 2025, reshaping the way properties are bought, rented, and even marketed.
Shifting Lifestyles & Global Impacts
Danos points out that ongoing global conflicts — like the wars in Ukraine and between Israel and Hamas — have had a ripple effect on everyday life, prompting people to reevaluate priorities, including how and where they live.
Add to that:
-
Rising interest rates
-
Soaring living costs
-
EU mandates pushing for carbon neutrality (making buildings more expensive)
All of this is making homeownership less attainable for many, and rentals are becoming the more practical choice, especially among younger generations.
Cyprus as a Destination
Despite economic pressures, Cyprus remains a hotspot for those looking for a lifestyle reboot. Its sunny climate, slower pace, and strategic location make it appealing to buyers from all over — especially those wanting a fresh start.
Tech-Savvy Buyers Are Changing the Game
Today’s real estate experience is increasingly digital. Danos notes a sharp uptick in tech-driven demands like:
-
2D & 3D virtual walkthroughs
-
Personalized video tours
-
Online meetings with agents
-
Google Maps scouting
-
Instant access to info and amenities
This digital-first mindset is especially prevalent among Millennials and Gen Z, who want convenience, transparency, and sleek presentation — all before setting foot on a property.
Eco-Friendly & Community-Focused Living
Modern buyers aren’t just looking for a house — they want a home that fits their values. Sustainability, walkability, pet-friendliness, and family-ready communities are non-negotiables for many. There’s a clear demand for properties that align with a green lifestyle and socially conscious living.
High-End Buyers Are Raising the Bar
For the luxury market, expectations are even higher. Discerning clients are gravitating toward established, trustworthy brands that offer:
-
Authentic experiences
-
Personalized support
-
Professional, detail-oriented service
-
Top-notch digital tools
This means real estate agencies need to step up — it’s no longer just about listings, it’s about the experience.
Source: Cyprus Property News