Sotheby's (US) International Realty Brand Expands into Cyprus
09 Oct 2019 - Sotheby's International Realty Affiliates LLC today announced its expanding presence in Europe with the opening of Cyprus Sotheby's International Realty.
Cyprus Sotheby's International Realty is owned and led by Andrey Manukovskiy, chairman, and Anastasia Yianni, chief executive officer, who have practiced real estate in Cyprus for 19 years. Cyprus Sotheby's International Realty is located in Pafos and will serve the luxury residential markets of Limassol, Pafos, Nicosia, Larnaca and Agia Napa.
"Cyprus continues to attract high-net-worth individuals from a variety of markets around the world due to its strategic location and high quality, high yield investment opportunities," said Philip White, president and chief executive officer, Sotheby's International Realty. "Andrey and Anastasia have a strong understanding and passion for the luxury real estate, and we are proud to welcome them as an affiliate in Cyprus."
"The luxury real estate market in Cyprus continues to grow due to the appeal of the Mediterranean lifestyle, the sunny climate and our hospitable culture," said Anastasia Yianni. "From a global perspective, we are noticing interest from Europe, China, India, and Russia. Aligning our company with the Sotheby's International Realty® brand will further enable us to provide a tailor-made approach to the needs and requirements for each of our clients. Our company culture is based on expertise and a tradition of customer service and our integration to the Sotheby's International Realty network will enable us to continue this approach on a global scale with unparalleled marketing and exposure."
The Sotheby's International Realty network currently has more than 23,000 affiliated independent sales associates located in nearly 1,000 offices in 71 countries and territories worldwide. In 2018, the brand achieved a record global sales volume of $112 billion USD. Cyprus Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.
About Sotheby's International Realty Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans nearly 1,000 offices located in 71 countries and territories worldwide, including 43 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Sotheby's International Realty Affiliates LLC and Sotheby's International Realty Inc., both fully support the principles of the Fair Housing Act and the Equal Opportunity Act.