News Local Half of property sales to non-Cypriots

Half of property sales to non-Cypriots

Nearly one in two property sales in the first 11 months of 2018 were to non-Cypriots, according to Land and Surveys Department figures analysed by Insider.

It said that of the 8442 sales contracts deposited at the Department in the period of January to November, 4017 were by non-Cypriots.

Of the 4017 contracts deposited by non-Cypriots, 1293 were by EU citizens and 2724 by third country nationals.

This means 47.5% of sales contracts were submitted by non-Cypriots and 32% by third country nationals.

As regards sales contracts deposited by third country nationals,  963 were in the Limassol district followed by Paphos with 913. Larnaca had the third largest number with 511. The free Famagusta district had 225 and Nicosia 112.

As regards EU citizens, Paphos had the biggest number of sales contracts with 681.

Overall, for the period January to November 2018, Limassol once again had the biggest number of sales contracts with 3121, up 18% from 2635 in the corresponding period last year.

Islandwide the annual increase is 17% .

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