Domestic Sale Transactions – 2023/2024 Comparison
Sales to the domestic market in the first nine months of 2024 reached 7,075; an increase of 13% on the 6,230 achieved in the same period of last year. With the exception of Famagusta, where sales fell by 8%, all districts recorded gains.
Property sales to the overseas market
The total number of Cyprus property sales to the overseas market (both EU and non-EU citizens) in September reached 530, falling 12% on the 604 achieved in September last year.
Sales fell in all districts with the exception of Famagusta, which recorded a double-digit increase of 61%.
On an annual basis, overseas sales have fallen 13%. Although sales in Nicosia, Famagusta, and Larnaca have risen 25%, 13% and 1% respectively, they’ve fallen 25% in Limassol and 21% in Paphos.
Property sales to EU citizens
Sales to EU citizens fell 3% to reach 171 in September compared to 176 in the same month last year.
Although sales in Larnaca and Famagusta rose 26% and 17% respectively, they fell by 23% in the other three districts.
Sales to EU citizens in the first nine months of 2024 reached 1389; a fall of 6% compared to the 1,476 sold in the same period last year, with sales in Paphos and Limassol 8% and 16% respectively, while sales rose by 26% in Nicosia, 24% in Famagusta and 8% in Larnaca.
Property sales to non-EU citizens
Sales to non-EU citizens fell 16% in September compared to September last year. The only district to record an increase in sales was Famagusta where they more than doubled.
Sales to Non-EU citizens in the first nine months of 2024 reached 3,192, falling 6% compared to the 3,813 achieved in the first nine months of last year. The only district recording an increase was Nicosia, where sales so far this year have risen 24%.
Cyprus property sales market segment summary analysis
The chart below shows each of the district’s popularity with each of the market segments. Sales to the overseas market segments (EU nationals + non-EU nationals) exceed domestic sales in Paphos.
In Paphos, the most popular with those looking for a holiday home in the sun, sales to non-EU nationals alone exceed sales to the domestic market (Cypriots.)
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Publish date : 2024-10-08 08:43:00
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