08.05.2024
Property sales in April 2024 recovered from a 7% drop in sales in March, when the total number of sales contracts submitted to land registry offices across Cyprus reached 1,366; registered an increase of 15% compared to the corresponding month in 2023. This is the highest number of April sales since the construction boom in 2007, when they reached 1,556 transactions.
In addition to residential properties, the data includes commercial properties, retail premises, offices, warehouses and land. Unfortunately, the department does not provide a more detailed analysis.
Although sales in Paphos fell by 13%, this was offset by growth in sales in Larnaca (44%), Nicosia (43%), Famagusta (24%) and Limassol (3%).
Sales for the first four months of 2024 were up 4% compared with the same period last year. While property sales in Nicosia and Famagusta are higher than last year, sales in Paphos and Limassol have not risen enough yet.
