A review of the cities which had the most real estate deals this year

Real estate sales have shown a slight increase this year, with a marginal growth of 1% recorded in October and throughout the first ten months of 2024. This comes as a rebound following declines observed in September.

According to data from the Department of Lands and Surveys, October 2024 saw 1,318 sales documents filed, a slight rise compared to the 1,306 recorded in October 2023. Cumulatively, the January-October 2024 period saw 12,952 sales, just above the 12,825 recorded in the same timeframe last year.

Limassol, Nicosia, and Larnaca are growing

With 402 transactions in October, up 5% from the 383 in October 2023, Limassol continues to lead the real estate market. But according to year-to-date data, sales between January and October 2024 were 4,093 as opposed to 4,225 in 2023, a 3% decrease.

Nicosia is still growing in the meantime. With 297 transactions in October 2024 as opposed to 292 in October 2023, the capital reported a 2% increase in sales. This increase is even more noticeable over the first 10 months of the year, when sales increased by 18% to 2,890 from 2,451 during the same time last year.

Larnaca also had significant growth. Real estate sales in October 2024 rose by 8%, with 284 transactions compared to 264 in October 2023. From January to October 2024, sales in the district grew by 6%, reaching 2,781 compared to 2,612 in the corresponding period of 2023.

Paphos stabilisation and Free Famagusta decreases

In October 2024, there were 272 property sales in Paphos, down about 1% from 275 in the same month the previous year. With 2,554 sales so far this year, the district has seen an 11% decrease from 2,878 sales in the first 10 months of 2023.

With sales falling 32% to 63 in October 2024 from 92 in October 2023, the district of free Famagusta saw the most losses. With 634 sales from January to October 2024 as opposed to 659 during the same period in 2023, there was a 4% drop in sales as well.