06.12.2022
In November 2022, property sales in Cyprus were at a slow pace, despite a positive trend, with the number of sale documents reaching 1293 from 1149 in November last year, an increase of 13%.
At the same time, sales recorded between January and November 2022 rose by 33% to 12,074 compared to 9,063 in the same period in 2021, indicating that this year will end with a significant increase compared to with last year.
Increasing sales in Limassol and Paphos
In Limassol , 465 sales were registered in November this year compared to 361 in November last year, up 29%. Moreover, sales in the first 11 months of 2022 were 4,168 units compared to 2,886 units in the same period in 2021, up 44%.
Property sales in Paphos recorded a notable increase of 56%, reaching 317 in November 2022, up from 203 in November 2021. Between January and November 2022, the number of sales documents in Paphos increased by 66% to 2,614 compared to 1,573 in the corresponding period last year.
Falling sales in Nicosia and Famagusta
Property sales in Nicosia continued to decline, losing 20% in November this year, with 242 sales documents out of 302 in the corresponding month last year, while sales remained unchanged in the eleventh month of 2022 at 2506.
Property sales in Larnaca moved almost at the same level, reaching 196 in November. As for the period January-November 2022, sales documents increased by 47% to 2,172 from 1,475 in the corresponding period last year.
Property sales in freehold Famagusta fell by 14% in November 2022, reaching 73 compared to 85 in the same month last year, while sales for the first 11 months of 2022 remained stable at 614.
