The underline of last year’s Cyprus property sales statistics is very encouraging – the sales have reached their highest since 2008.
First of all, let’s analyse the statistics of the last month of 2019 - December saw a 14% rise in the number of property sale contracts deposited at Land Registry compared to the relevant month of 2018, a total of 910 contracts compared to 800 in December 2018.
That sums up the year with the annual total reaching 10,366; the highest number recorded since 2008 according to official figures published by the Department of Lands and Surveys, with sales rising in all districts.
Percentage wise, Nicosia saw the largest increase with sales up 44%, followed by Larnaca and Pafos, where annual sales rose equally by 17%. Meanwhile sales in Limassol and Famagusta rose by 3% and 2% respectively.
Considering the actual number of properties sold in each district, Limassol came first with the total of 3,517 sales, Pafos was second with 2,630 sales, with Nicosia holding the third place with 1,998 sales, Larnaca the fourth with 1,568 sales and finally Famagusta with 653 sales.
Of all the sales contracts in 2019 43,2% were deposited by foreign buyers, who became owners of 4481 homes, apartments, offices or plots. 2952 properties were purchased by non-Europeans, 1529 by citizens of EU. Pafos was the leader among sales to foreigners, who bought 1887 properties there (42,1% of the total sales), of which 1132 properties were purchased by non-Europeans and 755 by EU citizens.
1196 all the properties sold to foreigners in 2019 were located in Limassol, of them 910 were sold to non-Europeans, 286 to EU buyers. Larnaca accounts for 738 properties sold to non-Cypriots (16,5% of the total foreign sales). 549 now belong to non-Europeans, 189 to EU citizens.