Nicosia and Larnaca led the way in Cyprus’ property market in 2024, driving a 1.5 per cent overall increase in sales documents compared to the previous year, according to data from the land registry.
Nicosia recorded a 14 per cent surge in filings, totaling 3,527 for the year, with its peak in June (348 documents) and its lowest point in August (223). Similarly, Larnaca demonstrated growth, with a 5 per cent increase resulting in 3,356 documents; notably, July was the busiest month with 418 filings. Conversely, Paphos, Famagusta, and Limassol did not perform as well.
Paphos recorded an 8 per cent decrease, with February seeing the highest number of documents filed at 310 and May experiencing the lowest at 211. Famagusta saw a 5 per cent drop, totalling 775 documents, peaking in July with 83 and dropping to a low in January with just 10. Limassol experienced a slight decline of 1 per cent, ending the year with 5,032 filings; July was most active with 552, and January the least with 315.
Significantly, July emerged as the year’s most active month across Cyprus, with a total of 1,657 sales documents filed. Meanwhile, December experienced a slight downturn, with a 1 per cent decrease compared to the same month in 2023, totaling 1,339 documents filed.
Source: Cyprus Mail
