05.12.2023
Limassol confirms its reputation as the leader of the Cypriot property market, as it has the most sales documents registered (3435), with slightly fewer transactions recorded in Nicosia – 2334. In terms of value, it is the strongest province of Cyprus, with registered transfers worth 462 million in nine months of the year euros and sale documents for 1.85 billion euros.
Nicosia recorded the largest number of real estate transfer transactions in nine months – 2,937, with a value of €409 million. The picture changes dramatically when analyzing sales documents for nine months, since Nicosia is both in terms of the volume of transactions (1,673) and their value (382 million euros) ranks fourth among the five provinces of Cyprus, behind Limassol , Paphos and Larnaca .
Paphos has maintained its momentum in the property market over the past year or so, with 1,063 transactions worth €165.3 million and 2,027 sales documents worth €632 million in the nine months of 2023. Paphos ranks fourth, but in terms of the cost of trade documents it is second only to Limassol , significantly ahead of Larnaca and Nicosia.
Larnaca has recorded significant gains in the property market in recent months and this fact is also reflected in the comparative sales for the nine months . With 1,850 transfers worth €266 million and 1,892 sales documents worth €383 million, it ranks third in the reporting period.
Despite its small size, the free Famagusta real estate market shows stability in the period from January to September 2023: a total of 497 transactions worth 93 million euros and 347 sales documents were registered.
