Cyprus: 36 per cent rise in property sales
The Department of Lands & Surveys reports that 1,171 property sales contracts were deposited at Land Registry offices across Cyprus in October compared with 911 in the same month last year; a rise of 29 per cent.
Although the number of property sales fell in Nicosia compared to October last year, the rose in the other four districts. In terms of the number of sales, Limassol lead the way with 388, followed by Paphos (269), Larnaca (242), Nicosia (221) and finally Famagusta with 51 sales.
Total Property Sale Transactions – 2021/2022 Comparison
In the first ten months of 2022 a total of 10,781 contracts were deposited at Land Registry offices, a rise of 36 per cent compared to the 7,914 deposited during the same period in 2021, with the number of sales the highest achieved since 2008 once again.
While sales in the capital (Nicosia) and Famagusta have seen a small rise this year, sales have been steaming ahead in the Paphos, Larnaca and Limassol districts where foreign (non-Cypriot) buyers tend to buy property.
Total number of sale contracts deposited for years 2021 and 2022 by month