Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 29th October 2020
Home Property Sales November saw slight fall in property sales

November saw slight fall in property sales

THE NUMBER of Cyprus property sales in November fell by 2% with the total number of contracts deposited falling to 907 compared with the 925 deposited in November 2018 according to the latest official figures published by the Department of Lands and Surveys.

As the Department has yet to publish a breakdown of sales by market segment, we cannot say whether the fall is due to reduction in sales to the local market or the overseas market (or both).

Property sales – November 2019

Although the number of sales in Nicosia, Famagusta and Paphos rose by 29%, 2% and 1% respectively, these gains were more than wiped out falls of 15% in Larnaca and 14% in Limassol.

Total Property Sale Contracts – 2018/2019 Comparison

District Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Nicosia 2018 146 96 126 117 153 146 176 91 118 145 161 131
2019 161 194 131 169 213 145 174 103 137 183 208
Famagusta 2018 48 52 40 52 79 61 61 50 45 57 47 48
2019 53 48 45 96 87 43 49 30 40 50 48
Larnaca 2018 112 99 116 83 113 133 112 94 121 116 143 103
2019 114 125 118 140 173 102 157 93 102 160 122
Limassol 2018 225 256 314 246 282 338 314 262 251 289 344 290
2019 251 256 287 428 546 219 286 196 240 228 296
Paphos 2018 164 163 172 157 201 180 233 156 152 204 230 230
2019 187 211 185 224 404 205 230 166 173 192 233
Totals 2018 695 666 768 655 828 858 896 653 687 811 925 800
2019 766 834 766 1057 1423 714 896 588 662 813 907

Year to date sales

Despite the small fall in November, the total number of sales during the first eleven months of this year has risen 12% compared to the first eleven months of 2018.

In percentage terms, Nicosia leads the way with sales up 23%, followed by Paphos where sales have risen by 20%. Larnaca and Limassol sales are up 13% and 4% respectively. But, sales in Famagusta have fallen by 1%.

In terms of the total number of sales, Limassol leads the way with 3323 followed by Paphos with 2410. Sales in Nicosia (the capital) have reached 1818, Larnaca 1242 and Famagusta 589.

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