Cyprus property market on a steady pace
During March 2019, the number of property sales contracts deposited at Land Registry office across the Republic of Cyprus stood at 766 compared with the 768 deposited in March 2018 according to official figures published by the Department of Lands and Surveys. Of those 766 contracts, 398 (52%) were deposited by Cypriots and the remaining 368 (48%) by non-Cypriots – 125 of whom were EU citizens and 243 non-EU citizens. The number of property sales had increased for the past 23 months and property sales rose by 13% in Famagusta, 8% in Paphos, 4% in Nicosia and 2% in Larnaca.
Property sales – year to date. Sales during the first quarter of 2019 rose 11% compared to the same period last year. Total sales until the end of March stood at 2366 up from 2129 last year. Sales in Nicosia rose 32% followed by Paphos, where sales rose by 17%. Meanwhile sales in Larnaca and Famagusta rose by 9% and 4% respectively, while the total number of sales in Limassol over the quarter fell by one.