March saw the second highest number of property sales in the month since records began in 2000 according to official statistics from the Department of Lands and Surveys.
The total number of property sales (as measured by the number of contracts deposited at Land Registry offices) in March 2023 reached 1,352 – an increase of 23% compared to March 2022.
This is the second highest March figure since records began; only surpassed at the height of the boom in March 2007 when 1,903 sales contracts were deposited.
Although sales in Nicosia and Larnaca fell by 17% and 12% respectively compared to March 2022, they rose in the remaining three districts.
In percentage terms, Paphos led the way followed by Limassol and Larnaca with the highest number (507) recorded in Limassol.
Year to date property sales
Sales during the first quarter of 2023 reached 3,574; an increase of 19% compared to the first quarter of 2022. With the exception of Nicosia, sales have risen in all districts.
