Property sales bounced back In April 2024, following a disappointing drop on sales of 7% in March, with the total number of sales contracts deposited at Land Registry offices across Cyprus reaching 1,366; a 15% increase compared with the corresponding month in 2023.
This is the highest number of April sales since the height of the boom in 2007, when they reached 1,556.
As well as residential properties, the figures from the Department of Lands and Surveys include commercial property, retail premises, offices, warehouses, and land. Regrettably, the Department doesn’t provide a more detailed analysis.
Although sales in Paphos fell by 13%, this was outweighed by increased sales in Larnaca (44%), Nicosia (43%), Famagusta (24%), and Limassol (3%.)
Sales in the first four months of 2024 rose 4% compared with the same period last year. While property sales in Nicosia and Famagusta are performing better than last year, sales in Paphos, Famagusta, and Limassol have some catching up to do.
