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Sales of real estate on the domestic (Cypriot) market
In November 2024, property sales on the domestic market in Cyprus amounted to 914 transactions, an increase of 8% compared to the same period last year, when 848 transactions were recorded. Despite a decrease in sales in the areas of Famagusta , Larnaca and Paphos, these losses were offset by an increase in sales in Limassol and Nicosia.
The total number of transactions in the domestic market in the first eleven months of 2024 was 8,728, up 11% compared to the 7,834 transactions recorded in the same period last year. All districts, with the exception of Famagusta , where sales were down 15%, showed an increase in sales.
Sales of real estate on the foreign market
Property sales on the overseas market , including EU and non-EU nationals , amounted to 592 transactions in November 2024, up 10% compared to 538 transactions in November last year. Despite an increase in sales in most areas, Limassol saw a 1% decrease in sales.
Overseas sales fell by 10% in the first 11 months of 2024. Sales in the Famagusta , Larnaca and Nicosia areas increased by 15%, 5% and 21% respectively, but sales fell by 21% in Limassol and 18% in Paphos, indicating a shift in foreign buyer interest towards more affordable coastal areas and the capital, Nicosia.
Sale of real estate to EU citizens
Property sales to EU citizens increased by 22% in November 2024 compared to November 2023. Despite a decline of 30% in Nicosia and 11% in Larnaca , these losses were offset by sales growth of 75% in Famagusta , 66% in Paphos and 25% in Limassol .
In the first 11 months of 2024, property sales to EU citizens amounted to 1,743 transactions, down 3% compared to 1,789 transactions in the same period last year. The decline was driven by lower sales volumes in Paphos and Limassol , which fell by 12% and 11% respectively.
Selling real estate to non-EU citizens
Property sales to non-EU nationals increased by 5% in November 2024 compared to November 2023. In Nicosia, Famagusta and Larnaca, sales increased by 85%, 56% and 49% respectively, but Paphos saw a 22% decline and Limassol saw a 7% decline.
In the first 11 months of 2024, property sales to non-EU citizens amounted to 3,987 transactions, down 13% compared to 4,588 transactions in the same period last year.
