Property sales in June rose 19 per cent compared to the same month last year according to official figures from the Department of Lands and Surveys.
The total number of sales (as measured by the number of contracts deposited at Land Registry offices) in June 2023 reached 1,397 compared to 1,173 deposited in June 2022.
Sales rose in all districts, with the exception of Famagusta where the number of sales was unchanged. Limassol recorded the highest number of sales (444), followed by Paphos (316), Nicosia (312), Larnaca (258), and Famagusta (67).
Year to date property sales
Sales during the first six months of 2023 sales reached 6,7689; an increase of 23% compared to the same period last year with sales rising in all districts.
Market segment analysis
Property sales to the domestic market
Real estate sales to the domestic market in June rose 6% compared with June 2022 but with Limassol reporting a fall of 5%.
Nicosia saw the greatest number of sales followed by Limassol, Larnaca, Paphos and Famagusta.
Sales to the domestic market during the first six months of 2023 stood at 4,112; an increase of 6% on the 3,635 achieved during the same period last year.
Property sales to the overseas market
Sales to foreigners (non-Cypriots) were up 38% compared to June 2022 with sales rising in all districts with the exception of Famagusta, where they fell by 7%.
Paphos recorded the greatest number of sales, followed by Limassol, Larnaca, Nicosia and Famagusta.
Foreign real estate sales during the first six months of 2023 reached 3,577; a 36% increase on the 2,628 achieved in the same period last year.
Property sales to EU citizens
Sales to EU nationals continued their dramatic fall, dropping 11% compared to June 2022, with sales falling in all districts with the exception of Larnaca and Nicosia.
Paphos achieved the greatest number of sales, followed by Limassol, Larnaca, Nicosia and Famagusta.
Sales to EU nationals during the first six months of 2023 reached 969; a fall of 23% compared to the 1,253 achieved in the first six months of 2022.
Property sales to non-EU citizens
Sales to non-EU Nationals rocketed 86% compared to June 2022, with sales rising in all districts.
Limassol recorded the highest number of sales, followed by Paphos, Larnaca, Nicosia and Famagusta.
Sales to non-EU nationals during the first six months of 2023 reached 2,608, a 90% increase on the 1,375 achieved in the same period last year.
