Fall in Cyprus property sales

Latest official figures for Cyprus property sales in November this year, released by the Department of Lands and Surveys, show a marginal decrease in comparison to November 2018.

The total number fell from 925 in November 2018 to 907 contracts deposited this November. A breakdown of these figures between our local and overseas market has not yet been issued.

On further inspection sales growth did take place in the Famagusta, Nicosia and Paphos areas increasing by 29%, 2% and 1%.  But these were offset by the significant drop in sales in both Larnaca and Limassol falling by 15% and 14% respectively.

Even though there has been a small decrease in November’s property sales, the total sales for this year so far overall has risen significantly by 12% compared to last year. On breaking down these figures we see Nicosia had the highest increase in percentage of sales showing a rise of 23% selling 1818 properties. Next came Paphos where sales rose by 20% totalling sales at 2410. This is followed by Larnaca reaching 1818 properties and a rise of 13%. Limassol has the greatest number of sales at 3323 overall sales going up by 4%. The Famagusta area reached sales of 589 but this was a decrease from last year by 1 %.