07.05.2023
The best performance for this year was recorded for real estate sales in May 2023 after December 2017 (1537) .
According to the Department of Lands and Surveys, property sales in Cyprus reached 1,526 in May this year, up 34% from 1,143 in May 2022.
From January to May 2023, the number of sales documents reached 6,292 compared to 5,090 in the same period last year, representing a 24% increase.
In Limassol, property sales were 555 in May 2023, up 35% from 410 in May 2022. The number of trade documents in the first five months of 2023 increased by 27% to 2,232 compared to 1,758 in the same five months of 2022.
Nicosia ranked second in sales, with 314 properties sold in May 2023, up 43% from May 2022 (219 units). However, in the first five months of 2023, the number of sales in the capital decreased slightly to 1104 units, compared with the corresponding period last year (1114 units).
In Paphos, 301 properties were sold in May 2023, up 24% from May 2022 (243 units). In the first five months of 2023, sales in Paphos increased by 35% to 146 units, compared to the corresponding period last year (108 units).
The picture is similar in Larnaca: the number of sales documents in May 2023 was 295 units, an increase of 30% compared to May 2022 (227 units). In the first five months of 2023, sales in Larnaca increased by 33% to 1,193 units, compared to the corresponding period last year (896 units).
Finally, in free Famagusta, only 61 sale documents were filed in May this year, compared to 44 in May last year. At the same time, the growth rate reached 39% in the first five months of 2023, and real estate sales increased by 25% from 242 to 303 compared to May 2022.
