06.08.2024
According to data from the Department of Land and Surveys, a total of 1,667 property sales were registered across the country in July, marking a 22% increase compared to 1,362 sales in the same month last year.
This substantial rise in property sales has shifted the overall market trend for the year. From January to July, the total number of registered sales reached 9,210, slightly higher than the 9,051 transactions recorded during the same period last year, reflecting a 2% increase in real estate sales.
Regional Performance
Nicosia: In July, 310 transactions were recorded, representing a 19% increase compared to 260 transactions in the same month last year. The total number of sales for the first seven months of the year reached 2,072, a 24% increase from 1,676 transactions in the same period of 2023.
Limassol
In July, 562 transactions were registered, a 29% increase compared to 429 transactions in July last year. However, this growth did not fully offset the annual decline, as total sales from January to July amounted to 2,953, a 5% decrease compared to 3,105 transactions in the same period last year.
Larnaca
Property sales in July reached 418 transactions, a 28% increase compared to 326 transactions in July last year. For the first seven months of the year, total sales reached 1,994, a 12% increase from 1,777 transactions in the same period last year.
Paphos
In July, 294 transactions were recorded, a 3% increase compared to 286 transactions in July 2023. However, for the first seven months of the year, total sales decreased by 14%, totaling 1,790 transactions compared to 2,062 transactions in the same period last year.
Famagusta
In July, 83 transactions were recorded, higher than the 61 transactions in July last year. However, for the first seven months of the year, total sales reached 411 transactions, a 5% decrease compared to 431 transactions in the same period in 2023.
