Cyprus Property News for home buyers and real estate investors

Monday 19th April 2021
Cyprus Property News logo
HomeProperty NewsProperty sales fall at year end

Property sales fall at year end

Cyprus ended the year with property sales falling by 19 per cent in December compared with December 2019 following the abandonment of the Citizen-by-Investment (aka Golden Passport) Scheme in early November.

During the month a total of 737 contracts for the sale of property were deposited at Land Registry offices across the island compared to 910 in December 2019 according to the Department of Lands and Surveys.

Sales fell in all districts with the hardest hit being the two districts most popular with overseas investors; Paphos, where sales fell 33% and Limassol, where they fell by 24%. Meanwhile, sales in Larnaca fell by 19% and sales in both Famagusta and Nicosia fell by 2%.

Total Property Sale Contracts – 2019/2020 Comparison

District Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Nicosia 2019 161 194 131 169 213 145 174 103 137 183 208 180
2020 197 178 139 38 100 178 251 157 195 227 217 177
Famagusta 2019 53 48 45 96 87 43 49 30 40 50 48 64
2020 50 47 41 10 28 56 60 39 59 80 51 63
Larnaca 2019 114 125 118 140 173 102 157 93 102 160 122 162
2020 147 118 106 24 59 109 131 87 117 153 113 132
Limassol 2019 251 256 287 428 546 219 286 196 240 228 296 284
2020 180 225 143 72 112 202 254 193 253 402 227 217
Paphos 2019 187 211 185 224 404 205 230 166 173 192 233 220
2020 168 171 81 72 120 101 129 85 162 202 115 148
Totals 2019 766 834 766 1057 1423 714 896 588 662 813 907 910
2020 742 739 510 216 419 646 825 561 786 1,064 723 737

Annual property sales

The total number of property sales in 2020 fell 23% compared to 2019 with Nicosia being the only district where sales actually rose (by 3%.)

Sales in Paphos fell 41% and sales in Limassol fell 29%, while sales in Larnaca and Famagusta fell by 17% and 11% respectively.

During 2020, Limassol reported the highest number of property sales (2480) followed by Nicosia (2054), Paphos (1554), Larnaca (1296) and finally Famagusta (584).

Cyprus property sales 2019 2020

The Department of Lands and Surveys has yet to publish a breakdown of the figures showing domestic and foreign sales. We’ll bring you the figures as soon as they’re published.

Cyprus property transfer fees

Property capital gains tax (CGT) calculator

EUR - Euro Member Countries
GBP
1.1543
RUB
0.0109
CNY
0.1277
CHF
0.9093

Top Stories