Cyprus Property Updates

January 2019
2019 has picked up the last year's positive trend and the property sales continued to rise in January throughout Cyprus. The number of sales contracts deposited at Land Registry offices rose by 10% compared to the same month last year. January 2019 saw a total of 766 deposited contracts for the sale of commercial and residential properties and land compared to 695 in January 2018. Of the 766 contracts, 409 (54%) were registered by Cypriots and 357 (47%) by non-Cypriots. EU citizens purchased 107 properties, while non-Europeans 250.

Property sales are rising in all districts, Paphos is the leader with sales up 14% followed by Limassol, where sales rose by 12%. Both Nicosia and Famagusta showed a 10% rise, while sales in Larnaca rose by 2%.

Domestic sales rose 33% in January 2019 compared with the same period last year. Paphos, Limassol and Nicosia recorded a 67%, 55% and 1% increase respectively. With regards to overseas buyers' market, sales in Nicosia, Larnaca and Paphos rose by 70%, 15% and 8% respectively.

Property sales to EU nationals showed a 19% rise compared with the same month last year. Nicosia led the way with sales rising by 40% followed by Paphos with 37%, sales in Larnaca and Limassol rose by 33% and 7% respectively. As for the non-EU buyers, the figures fell 16% compared with January 2018.
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