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November saw slight fall in property sales

There was a slight fall in Cyprus property sales during November compared to the corresponding month last year according to the latest official figures released by the Department of Lands and Surveys.

Slight fall in Cyprus 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

DistrictYearJanFebMarAprMayJunJulAugSepOctNovDec
Nicosia20181469612611715314617691118145161131
2019161194131169213145174103137183208
Famagusta2018485240527961615045574748
20195348459687434930405048
Larnaca2018112991168311313311294121116143103
201911412511814017310215793102160122
Limassol2018225256314246282338314262251289344290
2019251256287428546219286196240228296
Paphos2018164163172157201180233156152204230230
2019187211185224404205230166173192233
Totals2018695666768655828858896653687811925800
201976683476610571423714896588662813907

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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