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Property sales Cyprus

Property sales Cyprus

Property sales Cyprus increased by 50 per cent in August compared August last year according to the latest official figures published by the Department of Lands and Surveys.

Property sales to the domestic (Cypriot) market in August rose 44% compared to August 2015, with sales reaching 346 compared with 241 in the same month last year.

Sales rose in all districts with Famagusta leading the way with sales up 129% compared to August 2015. Sales in Nicosia rose 61%, while sales in Limassol, Paphos and Larnaca rose by 55%, 38% and 8% respectively.

During August a total of 451 contracts for the sale of commercial and residential properties and land (building plots and fields) were deposited at Land Registry offices across the island; up 50% from the 496 sold during August last year.
Of those 451 contracts, 69% (346) were deposited by domestic (Cypriot) purchasers, while 31% (105) were deposited by overseas (non-Cypriot) purchasers.
The 50% increase in August follows a 26% increase in July, 42% increase in June and a 17% increase in May.
The number of contracts includes ‘non-sale’ agreements such as loan restructurings, recoveries and debt-to-asset swaps agreed between the banks and defaulting borrowers. As these ‘non-sale’ agreements are not recorded separately, there is no clear picture of the actual demand for property in the domestic market.
Sales rose in all districts with Famagusta leading the way with sales up 193% compared to August 2015. Sales in Nicosia rose 73%, while sales in Paphos, Limassol and Larnaca rose by 55%, 48% and 8% respectively.

Property sales Cyprus

Total Property Sale Transactions – 2015/2016 Comparison

District Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Nicosia 2015 46 45 83 88 86 61 60 37 65 64 60 54
2016 54 79 82 79 82 98 102 64
Famagusta 2015 16 27 17 17 21 33 45 14 30 29 33 42
2016 22 35 33 35 24 34 27 41
Larnaca 2015 90 71 98 67 68 111 95 75 85 87 111 114
2016 78 108 121 127 103 120 123 81
Limassol 2015 95 97 160 115 135 135 156 87 114 166 137 169
2016 92 179 197 166 145 222 220 129
Paphos 2015 74 85 94 94 95 124 140 88 91 117 105 134
2016 81 100 106 107 120 183 153 136
Totals
2015 321 325 452 381 405 464 496 301 385 463 446 513
2016 327
501 539
514
474 657
625 451
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