03.11.2022
Real estate sales continued steadily in October, a year in which one strong performance follows another.
According to the Department of Cadastre and Geometry, in October this year, property sales in Cyprus reached 1171 compared to 911 in October last year, which means an increase of 29%. This is slightly higher than the September increase of 27%.
For the period January-October 2022, trade documents increased by 36%, reaching 10,781 compared to 7,914 in the corresponding period last year. Compared to the first ten months of 2019, real estate sales increased by 26.1%.
Limassol holds the lead for another month, with 388 sales in October 2022 compared to 304 sales in October last year, up 28%.
As for the first ten months of 2022, the number of sales documents in Limassol jumped to 3,703 compared to 2,525 in the same period last year, representing a 47% increase.
Property sales in Paphos jumped 58% to reach 269 from 170 in October 2021 and in the first ten months of the year they rose 68% to 2297 compared to 1370 in the corresponding period of 2021.
An equally significant increase (68%) was recorded in property sales in Larnaca in October this year, reaching 242 compared to 144 in October last year. As for the period from January to October 2022, the number of sales documents in Larnaca increased by 55% to 1,976 compared to 1,277 in the same period in 2021.
The only exception to the positive ranking in real estate sales was Nicosia, where an 11% decline was recorded: 221 sales in October 2022 compared to 247 in the same month of 2021. Stability (up 2%) was recorded in the capital market. trade documents for the first ten months of 2022, which amounted to 2,264 versus 2,215 for the corresponding ten months of last year.
Free Famagusta has only 51 property sales in October this year compared to 46 in October last year, representing an increase of 11%, and for the period January to October 2022, sales increased by 3% to 541 compared to 527 in the corresponding period of last year.
