According to new figures released by the Land Department on Tuesday 7th January, 1,339 properties were sold in Cyprus in December 2024, compared to 1,356 sales in December last year. The decrease was at 1%.
Only Paphos recorded a positive trend in the last month of last year. In all other Cypriot cities, the number of sales decreased, which was reflected in the overall figure for December.
The highest number of properties sold during the month was in Limassol - 428 units compared to 438 in December 2023. The decrease was at 2%. In second place was Nicosia, where 315 contracts were signed, compared to 375 a year earlier. Sales in the Cypriot capital fell by 16% year on year.
Paphos was in third place. In this Cypriot city, 266 units were sold in December 2024 (+34%) compared to 198 in the corresponding month of 2023. Finally, in Larnaca and the free areas of Famagusta, 263 (-1%) and 67 (-16%) sales contracts were signed in December 2024 against 265 and 80 respectively in the same month of 2023.
In turn, between January and December, 15,797 sales contracts were signed in Cyprus, compared to 15,567 in the same period of 2023, an increase of 1%. Interestingly, property sales in Cyprus in 2024 have surpassed those of the record year of 2008.
Looking more closely, the positive trend was recorded in Nicosia and Larnaca, while negative figures were recorded in Limassol, Paphos and the empty neighbourhoods of Famagusta.
Limassol sold the most residential properties between January and December 2024, with 5,032 units compared to 5,092 in December last year. The annual decline was 1%. Nicosia came second with 3,527 contracts compared to 3,105 in January-December 2023. Sales in this city rose by 14% year-on-year. In third place was Larnaca. In this Cypriot city, 3,356 residential units were sold in the 12 months of 2024, compared to 3,185 in the corresponding period of 2023. Over the year, sales in this Cypriot city increased by 5%.
Finally, in Paphos and the free areas of Famagusta, 3,107 and 775 sales contracts were signed in 2024 compared to 3,373 and 812 in the corresponding period of 2023. This represents a decrease of 8% and 5% respectively.