Residential property sales in Cyprus declined in August, remaining at the same level as last year. According to the Land Department, 1,135 property sales contracts were registered in August, compared to 1,132 in August last year, showing a slight increase.
In the first eight months of 2024, the number of transactions amounted to 10,345, which is only 2% higher compared to the same period in 2023, when 10,183 transactions were concluded.
Sales by district
In Nicosia, 223 sales were recorded in August, compared to 208 in the same month of 2023, representing an increase of 7%. Sales reached 2,295 properties in the period from January to August, compared to 1,884 in the same period last year, representing an increase of 22%.
In Limassol, 346 transactions were recorded in August, up 6% from last year (327 transactions). However, in the first eight months of 2024, sales volumes fell by 4% to 3,299 transactions, compared to 3,432 in 2023.
In Larnaca, the number of transactions in August was down 11%, with 244 compared to 273 last year. However, for the period from January to August 2024, there was a 9% increase, with 2,238 sales compared to 2,050 in 2023.
Paphos recorded a 6% decline in August, with 236 transactions compared to 252 in August last year. From January to August, sales totalled 2,016 properties, down 13% on 2023, when 2,314 transactions were recorded.
Famagusta recorded 86 transactions in August, up 19% from 72 last year. Sales volumes for the first eight months were down slightly by 1% to 497 compared to 503 in the same period in 2023 .
