On Friday, February 9, the Land Department published data on property sales in Cyprus for January 2023.
According to the department's data, in the first month of 2024, 1,056 housing sales transactions were concluded on the island, compared to 1,091 in the same month of 2023. The drop amounted to a 3 percent drop.
However, it is worth noting that this is the fifth consecutive year that property sales in Cyprus have exceeded the 1,000 figure in January. That said, compared to pre-2019, real estate sales on the island are up 37.9%. If we look in more detail, the positive dynamics in January 2024 were recorded only in Nicosia (+40%), in all other regions of the island housing sales decreased: by 30% - in the free areas of Famagusta, by 16% - in Paphos, by 9% - in Limassol and by 4% - in Larnaca.
In turn, the total number of concluded transactions with residential and commercial properties in Cyprus in January reached the mark of 1,466 units. Of these: 341 transactions totaling €50.746b million were concluded in Nicosia, 426 transactions totaling €100.399 million in Limassol, 247 transactions totaling €37.983 million in Larnaca, 74 transactions totaling €11.065 million in the free areas of Famagusta and 378 transactions totaling €85.847 million in Paphos.