Property sales in May rose 34 percent compared to the same month last year

Property sales in May rose 34 percent compared to the same month last year according to official statistics from the Department of Lands and Surveys.

The total number of sales (as measured by the number of contracts deposited at Land Registry offices) in May 2023 reached 1,526 compared to 1,143 deposited in May 2022.

Sales rose in all districts. Limassol recorded the highest number of sales (555), followed by Nicosia (314), Paphos (301), Larnaca (295), and Famagusta (61).

Year to date property sales

Sales during the first five months of 2023 reached 6,292; an increase of 24% compared to the same period last year. With the exception of Nicosia, sales have risen in all districts.