PROPERTY sales rose by 13% in December 2015 compared with the same period in the previous year according to official figures issued earlier today by the Department of Lands & Surveys.
During December a total of 513 contracts for the sale of commercial and residential properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with the 454 deposited in December 2014.
Of those 513 contracts, 74% (378) were deposited by domestic (Cypriot) purchasers, while 26% (135) were deposited by overseas (non-Cypriot) purchasers.
While property sales in Paphos and Famagusta fell by 16% and 11% respectively, they rose in all other districts.
Sales in Larnaca rose 70%, sales in Limassol rose 33% and sales in Nicosia rose 2%.
Over the year property sales rose 9% reaching 4,952 compared with 4,527 in 2014.
Domestic sales
The number of properties purchased by Cypriots in December rose 6% compared to December 2014, with sales reaching 378 compared with 357 during the same period last year.
Although sales in Paphos, Nicosia and Famagusta declined by 21%, 14% and 5%, these falls were outstripped by rises of 84% in Larnaca and 16% in Limassol.
Sales to the domestic market over the year rose 8% to reach 3,603 compared with 3,334 in 2014.
Overseas sales
Property sales to the overseas (non-Cypriot) market rose 39% in December compared to December 2014 with sales reaching 135 properties sold compared with the 97 sold in December 2014.
With the exception of the once favoured hot-spots of Famagusta and Paphos, where sales to the overseas market fell by 75% and 4% respectively, they rose in the remaining three districts.
Sales in the predominantly business districts of Nicosia (the capital) and Limassol rose 400% and 119% respectively – and sales in Larnaca rose 43%.
Sales to the overseas market during 2015 rose 13% to reach 1,349 compared with 1,193 in 2014.
When I checked the figures for sales to the overseas market in Paphos there were more sales in 2015 than in 2014. ??????
(Editor’s comment: Property sales in Paphos during December were lower in 2015 than they were in 2014. 2014/2015 figures as follows total 160/134 (-16%), domestic 113/89 (-21%), overseas 47/45 (-4%.)