Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday 14th July 2020
Home Property Sales Small rise in property sales

Small rise in property sales

Small rise in Cyprus property salesOCTOBER saw a small rise of less than 1% in property sales with the total number of contracts deposited reaching 813 compared with the 811 contracts deposited in October 2018 according to the latest official figures published by the Department of Lands and Surveys.

Although property sales in Larnaca and Nicosia rose by 38% and 26% respectively, they fell by of 21% in Limassol, 12% in Famagusta and 6% Paphos.

Total Property Sale Contracts – 2018/2019 Comparison

DistrictYearJanFebMarAprMayJunJulAugSepOctNovDec
Nicosia20181469612611715314617691118145161131
2019161194131169213145174103137183
Famagusta2018485240527961615045574748
201953484596874349304050
Larnaca2018112991168311313311294121116143103
201911412511814017310215793102160
Limassol2018225256314246282338314262251289344290
2019251256287428546219286196240228
Paphos2018164163172157201180233156152204230230
2019187211185224404205230166173192
Totals2018695666768655828858896653687811925800
201976683476610571423714896588662813

Property sales – year to date

During the first ten months of 2019, the number of sales has risen by 14% to reach 8,549 compared to 7,517 in the corresponding period last year.

Although sales have declined by 1% in Famagusta, they have risen in the remaining four districts.

In percentage terms, Nicosia leads the way with sales rising 23% to reach 1,610 compared with 1,314 in the first ten months of 2018. Paphos, which is favoured by overseas buyers, has seen sales rise by 22%, followed by Larnaca and Limassol, where sales have risen by 17% and 6% respectively.

In terms of the total number of property sales, Limassol is in first place with 2,937 followed by Paphos with 2,177, Nicosia with 1,610, Larnaca with 1,284 and finally Famagusta with 541.

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