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25th February 2024
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HomeNewsRise in property sales attributed to local & EU buyers

Rise in property sales attributed to local & EU buyers

FIGURES released by the Department of Lands & Surveys earlier today show that the 12% year-on-year rise in Cyprus property sales can be attributed almost solely to the domestic (Cypriot) and the overseas EU market.

Domestic sales

Property sales to the domestic market, which accounted for 57% of all sales, rose 21% on an annual basis, with increased numbers recorded in all districts.

In percentage terms, Paphos led the way with sales up 55% on an annual basis, followed by Larnaca, where sales increased by 26%. Meanwhile, sales in Nicosia rose by 23% and sales in Famagusta and Limassol rose by 18% and 10% respectively.

But Limassol recorded the highest number of sales (2,321) followed by Nicosia (1,693), Larnaca (829), Paphos (743) and finally Famagusta (298).

Domestic Property Sale Contracts – 2018/2019 Comparison

District Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec