The year-end fall in property sales we reported yesterday has affected all market segments according to official statistics published by the Department of Lands and Surveys.
Domestic sales
Property sales to the domestic market, which accounted for 66% of all sales in December, fell 11% compared to December 2019.
Although the number of sales recorded in Nicosia rose by 2%, they fell in the remaining four districts.
Sales in Limassol fell 25%, followed by Paphos (down 7%), Famagusta (down 4%) and Larnaca (down 3%).
Domestic Property Sale Contracts – 2019/2020 Comparison
District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nicosia | 2019 | 127 | 164 | 115 | 137 | 168 | 121 | 153 | 90 | 114 | 163 | 187 | 154 |
2020 | 178 | 155 | 124 | 29 | 83 | 167 | 230 | 143 | 174 | 190 | 196 | 157 | |
Famagusta | 2019 | 32 | 19 | 16 | 58 | 45 | 25 | 2 | 13 | 16 | 33 | 13 | 26 |
2020 | 10 | 18 | 16 | 6 | 8 | 43 | 29 | 9 | 30 | 58 | 30 | 25 | |
Larnaca | 2019 | 54 | 82 | 47 | 73 | 83 | 42 | 90 | 53 | 67 | 81 | 69 | 88 |
2020 | 76 | 64 | 56 | 13 | 28 | 71 | 72 | 51 | 75 | 101 | 82 | 85 | |
Limassol | 2019 | 166 | 152 | 192 | 291 | 329 | 138 | 177 | 134 | 176 | 144 | 210 | 212 |
2020 | 98 | 136 | 76 | 23 | 73 | 150 | 183 | 142 | 173 | 265 | 139 | 158 | |
Paphos | 2019 | 30 | 31 | 28 | 69 | 175 | 69 | 54 | 54 | 34 | 66 | 64 | 69 |
2020 | 55 | 29 | 26 | 21 | 31 | 18 | 42 | 17 | 74 | 84 | 24 | 64 | |
Totals | 2019 | 409 | 448 | 398 | 628 | 800 | 395 | 476 | 344 | 407 | 487 | 543 | 549 |
2020 | 417 | 402 | 298 | 92 | 223 | 449 | 556 | 362 | 526 | 698 | 471 | 489 |
(Note that some of these domestic sales may have resulted from properties acquired by banks as part of loan restructuring agreements, etc.)
Sales to EU citizens
Property sales to EU citizens, which accounted for 17% of all sales in December, fell 19% compared to December 2019.
Although sales in Nicosia rose 21% and sales in Limassol remained steady, they fell 48% in Nicosia, 25% in Paphos and 17% in Larnaca.
Foreign (EU) Property Sale Contracts – 2019/2020 Comparison
District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nicosia | 2019 | 14 | 14 | 9 | 19 | 20 | 16 | 13 | 5 | 8 | 10 | 15 | 14 |
2020 | 9 | 12 | 9 | 3 | 10 | 7 | 16 | 11 | 14 | 16 | 15 | 17 | |
Famagusta | 2019 | 9 | 6 | 14 | 17 | 10 | 8 | 17 | 14 | 10 | 5 | 9 | 23 |
2020 | 6 | 14 | 10 | 3 | 4 | 9 | 28 | 9 | 6 | 11 | 12 | 12 | |
Larnaca | 2019 | 12 | 12 | 21 | 18 | 20 | 11 | 16 | 13 | 6 | 23 | 14 | 23 |
2020 | 21 | 13 | 11 | 0 | 3 | 6 | 19 | 17 | 14 | 14 | 10 | 19 | |
Limassol | 2019 | 16 | 25 | 20 | 21 | 28 | 26 | 27 | 17 | 25 | 30 | 26 | 25 |
2020 | 28 | 30 | 11 | 12 | 14 | 15 | 28 | 12 | 39 | 33 | 28 | 25 | |
Paphos | 2019 | 56 | 72 | 61 | 48 | 69 | 59 | 73 | 58 | 61 | 95 | 61 | 72 |
2020 | 40 | 60 | 25 | 24 | 21 | 18 | 44 | 32 | 49 | 42 | 59 | 54 | |
Totals | 2019 | 107 | 129 | 125 | 123 | 147 | 120 | 146 | 107 | 110 | 133 | 125 | 157 |
2020 | 104 | 129 | 66 | 42 | 52 | 55 | 135 | 81 | 122 | 116 | 124 | 127 |
Property sales to non-EU citizens
Sales to non-EU citizens, which accounted for 16% of all sales in December, fell 41% compared to December 2019. With the exception of Famagusta, where sales rose 73%, they fell in the other four districts.
Sales in Nicosia fell 75%, followed by Paphos (down 62%), Larnaca (down 45%) and finally Limassol (down 28%.)
Foreign (Non-EU) Property Sale Contracts – 2019/2020 Comparison
District | Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nicosia | 2019 | 20 | 17 | 7 | 13 | 25 | 8 | 8 | 8 | 15 | 10 | 6 | 12 |
2020 | 10 | 11 | 6 | 6 | 7 | 4 | 5 | 3 | 7 | 21 | 6 | 3 | |
Famagusta | 2019 | 12 | 23 | 15 | 21 | 32 | 10 | 30 | 3 | 14 | 12 | 26 | 15 |
2020 | 34 | 15 | 15 | 1 | 16 | 4 | 3 | 21 | 23 | 11 | 9 | 26 | |
Larnaca | 2019 | 48 | 31 | 50 | 49 | 70 | 49 | 51 | 27 | 29 | 56 | 39 | 51 |
2020 | 50 | 41 | 39 | 11 | 28 | 32 | 40 | 19 | 28 | 38 | 21 | 28 | |
Limassol | 2019 | 69 | 79 | 75 | 116 | 189 | 55 | 82 | 45 | 39 | 54 | 60 | 47 |
2020 | 54 | 59 | 56 | 37 | 25 | 37 | 43 | 39 | 41 | 104 | 60 | 34 | |
Paphos | 2019 | 101 | 108 | 96 | 107 | 160 | 77 | 103 | 54 | 78 | 61 | 108 | 79 |
2020 | 73 | 82 | 30 | 27 | 68 | 65 | 43 | 36 | 39 | 76 | 32 | 30 | |
Totals | 2019 | 250 | 257 | 243 | 306 | 476 | 199 | 274 | 137 | 175 | 193 | 239 | 204 |
2020 | 221 | 208 | 146 | 82 | 144 | 142 | 134 | 118 | 138 | 250 | 128 | 121 |