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
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.