14.02.2024
Despite the fact that during 2023 the number of documents for the sale of real estate in Cyprus increased by 16%, 2024 did not start as successfully for the Cyprus real estate market as the previous year.
Property sales in Cyprus recorded a 3% decline in January 2024, reaching 1,056 compared to 1,091 in January 2023, according to the Department of Lands and Surveys.
The number of documents for the sale of real estate in Limassol compared to 346 in the corresponding month of 2023 was 315, a decrease of 9%.
The decline in sales is even more pronounced in Paphos, where 242 sales were recorded in the first month of 2024, compared to 289 in the same month last year, with the rate of decline reaching 16%.
The largest decrease of 30% was recorded in Svobodnaya Famagusta : There were only 40 sales in the first month of 2024, compared to 57 in the first month of 2023.
A slight decrease (4%) was also observed in Larnaca , where 215 sale documents were filed in January this year, compared to 225 in January last year.
In Nicosia, on the other hand, there were 244 property sales in January 2024 and an increase of 40% compared to the corresponding month last year (174 sales in January 2023).
