Insider Economy Paphos and Nicosia property sales on the rise

Paphos and Nicosia property sales on the rise

The number of Cyprus property sales in the first nine months of the year was substantially higher compared to the same period in 2018, according to data provided by the Land Registry.

And property sales in coastal Paphos and Nicosia, the capital, were a lot higher than in all other districts of the Mediterranean island. Specifically, Paphos recorded an increase of 26% followed by Nicosia with 22%, the data also showed.

All in all, an increase of 15% was recorded in property sales throughout the Mediterranean island from January to September this year compared to last year. Specifically, the total number of property sales reached 7736 compared to 6706 the same period in 2018.

Paphos recorded a total of 1985 by end of September compared to 1578 the corresponding period in 2018. The coastal town also showed a 14% increase during September with a total of 173 sales documents compared to 152 the same month last year.

Nicosia recorded a 22% increase in property sales which amounted to 1427 by end of September. In addition, 137 property sales were recorded this September, up by 16% from the same month in 2018.

Even though coastal Limassol is top in property development, a slowdown in sales was recorded. Specifically, September 2019 recorded a negative (-4%) with 240 sales compared to 251 the same month last year.

Overall, however, the island’s second largest city had an increase of 9% in property sales with a total of 2709 transactions by end of September.

In Larnaca, a 14% increase in property sales was recorded compared to last year. Specifically, 1124 property sales were filed by September 2019 against 983 last year for the same period. However, the month of September 2019 recorded a negative with just 102 property sales filed compared to 121 the same month in 2018.

Famagusta district also recorded a negative this September with sales diving by 11% compared to the same month in 2018.  However, the number of property sales over the first nine months of the year remains more or less the same with a total of 491 compared to 488 the same period in 2018.

 

Read more:

https://in-cyprus.com/property-sales-double-in-five-years/

Top Stories

Access to Troodos controlled by Police

The Police announced that on the basis of the Health Ministry decrees aiming to contain the outbreak of the pandemic, tomorrow Sunday, access to...

129 new cases, four deaths announced on Saturday

The Health Ministry announced the death of four persons due to COVID-19. This raises the death toll from the virus in Cyprus to 183,...

Crowding at Troodos; lots of fines by police

Lots of traffic was today seen at Troodos. In order to maintain order but also to monitor that people respected the measures aiming to...

Where to get antigen rapid tests on Sunday 24 January

The Health Ministry announced the following antigen rapid test sites for Sunday, 24 January 2021:   LIMASSOL Parking place Lidl supermarket, Limassol 08:30-16:30 Glafkos Clerides Park, Germasoyia 08:30-16:30 Municipal...

Larry King dies at 87

Larry King dies at 87. Photo taken at his concert at Hard Rock Live in Hollywood, Florida on January 25, 2012. (Reuters)

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...