Home sales to non-EU foreigners increased by 34% compared to August 2022 and accounted for 30% of total transactions.
Although Limassol recorded a 15% decline in sales for this category of buyers, sales increased in the other four regions. Paphos was the leader in the number of transactions, followed by Larnaca, Limassol, Famagusta and Nicosia.
Total sales of real estate to non-residents in the first eight months of 2023 amounted to 3,385 transactions, which is 76% more than in the same period of the previous year (1,921).
On the other hand, home sales to citizens of European Union countries decreased by 16% in August compared to August 2022. They fell in all areas except Larnaca and Nicosia, which recorded significant increases of 35% and 22% respectively. Paphos was the leader in the number of transactions with EU citizens, followed by Limassol, Larnaca, Famagusta and Nicosia.
Total home sales to EU citizens in the first eight months of this year decreased by 22% compared to the same period in 2022 (1,657 versus 1,300).
Total property sales in Cyprus to foreign buyers increased by 34% in August 2023. This increase was recorded in all areas except Limassol, where sales decreased by 15%. Paphos led the way in the number of transactions, followed by Larnaca, Limassol, Famagusta and Nicosia.
Total housing sales to non-residents in the first eight months of 2023 amounted to 4,685 transactions, which is 31% more than in January-August 2022 (3,578).
Home sales to Cypriots were up 19% in August compared to the previous year, with overall sales to locals up 13% in the first eight months of 2023.
