Slight fall in real estate sales in November

According to the latest official figures released by the Land Department, in November real estate sales in Cyprus fell slightly compared to the corresponding month last year.

The number of real estate sales in Cyprus in November fell by 2%, and the total number of leased contracts decreased to 907 compared to 925, leased in November 2018. Since the Department has not yet published the distribution of sales by market segment, we cannot say whether this is due to a drop in sales in the local market or in the foreign market (or both).

Despite a slight drop in November, total sales for the first eleven months of this year increased by 12% compared with the first eleven months of 2018. In percentage terms, Nicosia leads the way with sales growth of 23%, followed by Paphos, where sales grew by 20%. Sales in Larnaca and Limassol grew by 13% and 4%, respectively. But sales in Famagusta fell 1%.

In terms of total sales, Limassol leads with 3323, followed by Paphos with 2410. Sales in Nicosia (the capital) reached 1818, Larnaca 1242 and Famagusta 589.