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Cyprus Total property sales chart

Cyprus total property sales in Cyprus during July increased compared to July 2013 according to figures published by the Department of Lands and Surveys.

Cyprus total property sales during July 2014

During July 2014, contracts for the sale of commercial and residential properties and plots of land were deposited at Land Registry offices across Cyprus; an increase of 15% on the 354 contracts deposited in July 2013.

Of those 407 contracts, 77% (315) were deposited on behalf of domestic buyers, while 23% (92) were deposited in favour of overseas buyers.

With the exception of Nicosia, where sales fell 31% to reach 65 compared to the 94 sold in July last year, sales increased in all other districts.

In percentage terms, Famagusta recorded the strongest growth with sales increasing by 64%.

Sales in Paphos increased by 50%, while those in Larnaca and Limassol increased by 31% and 17% respectively.

Cyprus total property sales

During the first seven months of 2014, Cyprus total property sales reached 2,620; an increase of 23% compared with the 2,123 sold during the same period in 2013.

Domestic sales

Domestic sales in July increased by 26% compared with the same month last year, rising to 315 from 251.

A mere two properties were sold in Famagusta, an 82% fall compared to the 11 sales achieved in July last year. (Famagusta is favoured by Nicosians looking for a second home for weekends and short breaks). Sales in the capital Nicosia fell 23% reaching 61 compared to 79 in July 2013.

In percentage terms, Paphos experienced the greatest improvement with domestic sales up 198% compared to July 2013, while sales in Larnaca and Limassol rose 27% and 23% respectively.

Cyprus total property sales in the Domestic sector July 2014

During the first seven months of 2014, domestic sales are up 26% compared to the first seven months of 2013, having increased to 1,927 from 1,529.

Property sales in the Overseas sector

Property sales to the overseas market in July fell 11% compared to July 2013 with a total of 92 properties sold compared to 103 in July 2013.

Sales in Nicosia fell 73%, while those in Paphos fell 55% and sales in Limassol remained steady at last year’s level.

Meanwhile, sales in Famagusta rose to 21 from the 3 sold in July last year – a 600% increase, while sales in Larnaca rose 46%.

During the first seven months of 2014, sales to the overseas market are up 15% compared to the same period last year having increased to 693 from 604

By Kind permission of Cyprus Property News for which we thank them.

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