The cities most impacted by September's downward property trend

Real estate sales experienced a downward trend in September with three of the cities more impacted than Nicosia.

The number of property sales documents this September fell by 4% to 1,289 from 1,336 in September 2023, while for the period January-September 2024 they recorded an increase of 1%, reaching 11,634 compared to 11,519 in the corresponding period last year.

Nicosia is the exception

Limassol maintains the lion's share of property sales, with 392 sales in September 2024 compared to 410 in September 2023, recording losses of 4%. The same percentage of losses was measured by Limassol for the period January - September 2024, during which 3,691 sales documents were filed compared to 3,842 in the same period of 2023.

On the other hand, real estate sales in Nicosia increased by 8%, with 298 sales this September compared to 275 last September. Regarding the first ten months of 2024, the capital recorded a significant increase of 20%, with 2,593 sales documents compared to 2,159 in the first ten months of 2023.

The cities with the biggest losses
Paphos, with 266 real estate sales in September 2024 down from 289 in September 2023, recorded losses of 8%, while for the period January - September 2024 the decline in sales was 12%, with 2,282 sales documents compared to 2,603 ​​in the corresponding period last year.

Larnaca lost 13% this September, with 259 sales documents filed compared to 298 last September. In contrast, in the ten months of 2024, 2,497 sales documents were filed in Larnaca compared to 2,348 in the ten months of 2023, registering an increase of 6%.

In the free Famagusta district, 74 sales documents were filed in September 2024 compared to 64 in the corresponding month of 2023, recording an increase of 16%, while for the first ten months of 2024 there is stability (increase of 1%), with 571 real estate sales compared to 567 in the corresponding period last year.

(Source: InBusinessNews)