The number of properties in Cyprus sold to foreign nationals during the first four months of the year has dropped substantially compared to last year, according to official figures.
Specifically, purchase documents between January and April totaled 833 and 29.6% over all sales compared to 998 – and 45.2% over all sales – the same period in 2020.
The recently released data confirms reports by analysts that properties are mainly supported by Cypriot buyers who try to take advantage of better returns that rents have in relation to deposits.
Of the 833 sales to foreigners, 458 were to buyers outside the EU and 375 to buyers within the EU. The corresponding numbers in the first four months of 2020 was 657 sales to buyers outside the EU and 341 sales to buyers within the EU.