According to new figures released by the Land Department on Monday 9th December, 1,506 properties were sold in Cyprus in November 2024, compared to 1,386 sales in November last year. This represents an increase of 9%.
Positive dynamics were recorded in all cities of the island in November, except Paphos, where the number of sales decreased slightly.
The highest number of properties sold during the month was in Limassol - 511 units compared to 429 in November last year. The growth was 19%. In second place was Nicosia, where 322 contracts were signed, compared to 279 in the same month last year. Sales in this city rose by 18% year-on-year. In third place was Larnaca. In this Cypriot city, 312 units were sold in November 2024 (+1%) compared to 308 in the corresponding month of 2023. Finally, in Paphos and the free areas of Famagusta, 287 (-3%) and 74 sales contracts were signed in November 2024 compared to 297 and 73 respectively in the same month of 2023.
In turn, 14,458 sales contracts were signed in Cyprus between January and November, compared to 14,211 in the same period in 2023, an increase of 1.7%. Interestingly, property sales in Cyprus in the first 11 months of 2024 surpassed those of the record year of 2008.
A closer look reveals positive dynamics in Nicosia and Larnaca, while negative figures were recorded in Limassol, Paphos and the Free neighbourhoods of Famagusta.
Limassol recorded the highest number of residential properties sold between January and November, with 4,604 units compared to 4,654 in November last year. The annual decline was 1.1%. On the other hand, compared to the pre-pandemic year of 2019, the figures increased by 42.4%.
Nicosia came second with 3,212 contracts compared to 2,730 in January-November 2023. Sales in this city increased by 17.7% compared to the same period last year, and by 76.7% compared to 2019.
In third place was Larnaca. In this Cypriot city, 3,093 residential units were sold in the first 11 months of 2024, compared to 2,920 in the corresponding period of 2023. Over the year, sales in this Cypriot city increased by 5.9 per cent and by 120% compared to 2019.
Finally, in Paphos and the free areas of Famagusta, 2,841 and 708 sales contracts were signed in 2024, compared to 3,175 and 732 in the same period of 2023. This represents a year-on-year decrease of 10.5% and 3.3% respectively. Compared to 2019, sales in these regions of Cyprus increased by 17.9% and 20.2%, respectively.