News Local Property sales double in five years

Property sales double in five years

Property sales in 2018 were more than twice those in the financial crisis year of 2013.

According to Land and Surveys Department figures published by Phileleftheros on Sunday, there were 9242 property sales in 2018 compared to 3676 in 2013.

Close to half the sales were to non-Cypriots who showed a preference primarily for Limassol it added.

Last year saw 508 more property sales that 2017 and 2361 more than in 2016.

November was the busiest month in 2018 with 925 sales followed by July (896), June (858), May (828) and December (800). August sales were restricted to 653.

Limassol recorded the most property sales with 3,411 followed by Paphos with 2242 and Nicosia with 1606.  There were 1345 sales in Larnaca and 638 in the free Famagusta areas.

Foreign buyers brought impetus to the market, accounting for 4421 of last year’s 9242 sales. Of these, 1428 were from other EU countries and 2993 from third countries.

 

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