Real estate sales in September increased slightly by 1%compared to September 2018. While total sales to local and foreign buyers fromthe EU grew by 10%, sales to non-EU citizens declined. 19% according toofficial figures published by the Department of Land Resources and Research. Ofthe 692 contracts deposited in Land Registry, 407 (59%) were transferred onbehalf of the local (Cypriot) buyer, and the remaining 285 (41%) weretransferred to foreign buyers, of which 110 were EU citizens and 175 were non-EUcitizens.
Sales to Cypriot buyers in September increased by 6%compared to September 2018. With the exception of Famagusta, where sales fell24%, sales rose in all other areas; sales in Nicosia grew by 18%, while salesin Larnaca, Paphos and Limassol grew by 12%, 6% and 1%, respectively. In thefirst nine months of 2019, local sales increased by 22% compared to the sameperiod last year. (However, after a significant increase in total sales in May,total sales in the local market in June, July, August and September fell by 5%compared to the same period last year.)
The total volume of real estate sales in the foreign(non-Cypriot) market in September fell by 6% compared to September 2018.
Although sales in Paphos and Nicosia grew by 16% and 10%,respectively - and remained stable in Famagusta, they fell by 43% in Larnacaand 16% in Limassol. In the first nine months of 2019, sales abroad increasedby 8% compared to the same period last year. (However, after a significantincrease in total sales in May, total sales to foreign markets in June, July,August and September fell by 8% compared to the same period last year.)
Real estate sales to EU citizens rose 29% in Septembercompared to September 2018. Although sales in Larnaca and Nicosia fell 60% and20% respectively and remained unchanged in Famagusta, they grew by 127% inLimassol and 24% in Paphos. In the first nine months of 2019, sales to EUcitizens increased by 11% compared to the same period last year. (In addition,after a significant increase in sales recorded in May, total sales to EUcitizens in June, July, August and September increased by 4% compared to thesame period last year.)
Real estate sales to citizens of non-EU countries fell 19%in September compared to September 2018. With the exception of Nicosia andPaphos, where sales rose 36% and 10% respectively, they fell in the remainingthree areas. Sales in Famagusta fell by 42%, while sales in Limassol andLarnaca fell by 40% and 37%, respectively. In the first nine months of 2019,sales to citizens of non-EU countries increased by 6% compared to the sameperiod last year. (However, after a significant increase in total sales in May,total sales to citizens of non-EU countries fell by 15% in June, July, Augustand September compared to the same period last year.)