45% of the total real estate sales recorded in the first five months of 2020 were occupied by sales to foreigners.
According to data from the Department of Lands and Surveys, the properties for which sales documents were submitted with foreign buyers amounted to 1,194, of which 801 outside the EU and 393 within the EU.
Paphos holds strong, remaining at the top
Paphos continues to play a leading role in real estate sales to foreign buyers, accounting for 37.6% of total sales.
Specifically, the sales documents with foreign buyers in Paphos reached 450 in the period January - May 2020, of which 280 were for buyers outside the EU and 170 buyers within the EU.
It is characteristic that Paphos seems to have endured in May in the middle of a coronavirus, with 89 sales of real estate by foreigners from a total of 196 nationwide, while other provinces were counting the sales on the fingers.
In Limassol one in four sales
27.3% were occupied by real estate sales to foreigners in Limassol, which amounted to 326, of which 231 outside the EU and 95 within the EU.
In Larnaca, sales in the first five months of the year stood at 217 (up 18%), of which 169 were related to non-EU buyers and 48 to intra-EU buyers.
Low performance for Nicosia
Regarding the Famagusta Free Zone, 118 sales were recorded by foreign buyers (almost one in ten), of which 81 were non-EU buyers and 37 were EU buyers.
In Nicosia, sales to foreign buyers were again low, with the capital counting 83 sales documents for the first five months, of which 43 were related to buyers within the EU and 40 to buyers outside the EU.