Real estate sales are growing

Cyprus Property Sales Up by 18% in the First 11 Months of 2023

The Department of Lands and Surveys of Cyprus has released property sales statistics for November 2023.

November results

• In November 2023, a total of 1,386 property transactions were recorded across Cyprus – a 7% increase compared to November 2022 (1,293 transactions).

January–November overview

• From January to November 2023, 14,211 properties were sold, marking an 18% rise compared to the same period in 2022 (12,074 transactions).

Sales by city

• Limassol:

  • November – 429 transactions (−8% vs 2022)

  • January–November – 4,654 (+12%)

• Larnaca:

  • November – 308 transactions (+57%)

  • January–November – 2,920 (+34%)

• Paphos:

  • November – 297 transactions (−6%)

  • January–November – 3,175 (+21%)

• Nicosia:

  • November – 279 transactions (+15%)

  • January–November – 2,730 (+9%)

• Famagusta (free areas):

  • November – 73 transactions (0% change)

  • January–November – 732 (+19%)

Conclusions

• The Cyprus real estate market continues to show strong growth.

• Larnaca recorded the most impressive increase – up 57% in November and 34% year-to-date.

• Limassol remains the leader in total sales volume, despite a slight monthly decline.