CYPRUS property sales fell 2 per cent in April 2017 compared to April last year according to the official statistics published by the Department of Lands and Surveys.
During April a total of 506 contracts for the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with 514 in April 2016.
Of those 506 contracts, 379 (70%) were deposited by Cypriot purchasers and 127 (30%) were deposited by overseas purchasers.
Although property sales rose in Paphos, Limassol and Nicosia rose by 27%, 16% and 1% respectively, sales fell by 46% in Larnaca and 17% in Famagusta.
Total Property Sale Contracts – 2016/2017 Comparison
| District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nicosia | 2016 | 54 |
79 |
82 |
79 | 82 | 98 | 102 | 64 | 81 | 80 | 86 | 144 |
| 2017 | 72 | 73 | 79 | 80 | |||||||||
| Famagusta | 2016 | 22 |
35 | 33 |
35 |
24 | 34 |
27 | 41 | 32 | 47 | 19 | 87 |
| 2017 | 21 | 19 | 40 | 29 | |||||||||
| Larnaca | 2016 | 78 |
108 | 121 |
127 |
103 | 120 |
123 | 81 | 121 | 111 | 114 | 153 |
| 2017 | 102 | 100 | 113 | 69 | |||||||||
| Limassol | 2016 | 92 |
179 | 197 |
166 |
145 | 222 |
220 | 129 | 195 | 270 | 249 | 432 |
| 2017 | 132 | 177 | 232 | 192 | |||||||||
| Paphos | 2016 | 81 |
100 | 106 |
107 |
120 | 183 |
153 | 136 | 127 | 126 | 183 | 318 |
| 2017 | 96 | 87 | 162 | 136 | |||||||||
| Totals | 2016 | 327 |
501 | 539 |
514 |
474 | 657 |
625 | 451 | 556 | 634 | 651 | 1134 |
| 2017 | 423 | 456 | 626 | 506 |
During the first four months of this year sales are up 7% compared with the same period last year. But while sales in Paphos, Limassol and Nicosia have risen by 22%, 16% and 3% respectively, they have fallen by 13% in Famagusta and by 12% in Larnaca.
Domestic property sales
Property sales to the Cypriot market in April remained almost steady with one fewer property sold compared to April 2016.
Sales in Larnaca, Famagusta and Nicosia fell by 46%, 30% and 10% respectively. Meanwhile sales in Paphos rose by 43% and sales in Limassol rose by 25%.
Domestic Property Sale Contracts – 2016/2017 Comparison
| District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nicosia | 2016 | 43 |
70 |
10 |
69 | 68 | 92 | 94 | 58 | 75 | 70 | 73 | 116 |
| 2017 | 63 | 69 |
71 |
62 |
|||||||||
| Famagusta | 2016 | 20 | 31 | 21 |
33 |
24 | 7 | 19 | 32 | 22 | 37 | 9 | 72 |
| 2017 | 20 | 17 | 24 | 23 | |||||||||
| Larnaca | 2016 | 68 | 96 | 85 |
91 |
93 | 75 | 91 | 67 | 90 | 81 | 74 | 114 |
| 2017 | 77 | 80 | 85 | 49 | |||||||||
| Limassol | 2016 | 68 | 158 | 145 |
122 |
126 | 162 | 156 | 101 | 142 | 202 | 196 | 307 |
| 2017 | 97 | 130 | 176 | 152 | |||||||||
| Paphos | 2016 | 61 | 72 | 59 |
65 |
105 | 126 | 74 | 88 | 98 | 83 | 111 | 171 |
| 2017 | 73 | 47 | 82 | 93 | |||||||||
| Totals | 2016 | 260 | 427 | 382 |
380 |
416 |
462 |
434 | 346 | 427 | 473 | 463 | 780 |
| 2017 | 330 | 343 | 438 |
379 |
During the first four months of this year domestic sales are up 3% compared with the same period last year. But while sales in Paphos, Limassol and Nicosia have risen by 15%, 14% and 4% respectively, they have fallen by 20% in Famagusta and by 14% in Larnaca.
Overseas property sales
Property sales to the overseas (non-Cypriot) market during April 2017 fell 5% compared to the same month last year with 127 contracts of sale deposited compared with 134 in April 2016.
Although sales in Larnaca and Limassol fell by 44% and 9% respectively, these falls were more than outweighed by a 200% increase in Famagusta (from a very low base), an 80% increase in Larnaca and a 2% increase in Paphos.
Overseas Property Sale Contracts – 2016/2017 Comparison
| District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nicosia | 2016 | 11 |
9 |
10 |
10 | 14 | 6 | 8 | 6 | 6 | 10 | 13 | 28 |
| 2017 | 9 |
4 |
6 |
18 | |||||||||
| Famagusta | 2016 | 2 | 4 | 12 |
2 |
0 |
27 |
8 | 9 | 10 | 10 | 10 | 15 |
| 2017 | 1 | 2 | 16 | 6 | |||||||||
| Larnaca | 2016 | 10 | 12 | 36 |
36 |
10 |
45 |
32 | 14 | 31 | 30 | 40 | 39 |
| 2017 | 25 | 20 | 28 | 20 | |||||||||
| Limassol | 2016 | 24 | 21 | 52 |
44 |
19 |
60 |
64 | 28 | 53 | 68 | 53 | 125 |
| 2017 | 35 | 47 | 56 | 40 | |||||||||
| Paphos | 2016 | 20 | 28 | 47 |
42 |
15 |
57 | 79 | 48 | 29 | 43 | 72 | 147 |
| 2017 | 23 | 40 | 80 | 43 | |||||||||
| Totals | 2016 | 67 | 74 | 157 |
134 |
58 |
195 |
191 | 105 | 129 | 161 | 188 | 354 |
| 2017 | 93 | 113 | 186 | 127 |
During the first four months of this year sales to the overseas market are up 21% compared with the same period last year. But while sales in Paphos, Limassol and Famagusta have risen by 36%, 26% and 25% respectively, they have fallen by 3% in Nicosia and by 1% in Larnaca.
Cyprus Property Sale Contracts 2000 – 2017
| Year | Overseas Sales | Domestic Sales | Percentage Overseas Sales |
Total Sales |
|---|---|---|---|---|
| 2000 | 450 | 12,214 | 3.6% | 12,664 |
| 2001 | 1,207 | 12,849 | 8.6% | 14,056 |
| 2002 | 2,548 | 14,111 | 15.3% | 16,659 |
| 2003 | 3,981 | 15,294 | 20.7% | 19,275 |
| 2004 | 5,384 | 11,947 | 31.1% | 17,331 |
| 2005 | 6,485 | 10,106 | 39.1% | 16,591 |
| 2006 | 8,355 | 8,598 | 49.3% | 16,953 |
| 2007 | 11,281 | 9,964 | 53.1% | 21,245 |
| 2008 | 6,636 | 8,031 | 45.2% | 14,667 |
| 2009 | 1,761 | 6,409 | 21.6% | 8,170 |
| 2010 | 2,030 | 6,568 | 23.6% | 8,598 |
| 2011 | 1,652 | 5,366 | 23.5% | 7,018 |
| 2012 | 1,476 | 4,793 | 23.5% | 6,269 |
| 2013 | 1,017 | 2,750 | 27.0% | 3,767 |
| 2014 | 1,193 | 3,334 | 26.4% | 4,527 |
| 2015 | 1,349 | 3,603 | 27.2% | 4,952 |
| 2016 |
1,813 | 5,250 | 25.7% | 7,063 |
| 2017 (April) | 521 | 1,490 | 25.9% | 2,011 |
| Totals |
59,139 | 142,677 | 29.3% | 201,816 |
Property falling 2% is insignificant. I think the stats are wrong and if they not, then good luck to the Chinese and the Golden Visa buttered scheme from Ali baba and the forty Cypriot thieves.
Buying property or even bringing in foreign money into Cyprus is not only a huge risk but a definite disaster.
The Government says…bring your money buy a home and live and work with us. What a lot of scandalous rubbish. We also brought our money to Cyprus in 2013 to buy a home and retire!!!!
Guess what? The government took it to bail themselves out of the European debt so no money no home. All the while the politicians and their siblings were taking millions out to other countries a few days before the crash.
All foreigners should stay away from Cyprus. You better off funding the Mafia, as they have more dignity.