Will the Cyprus property market begin to cool?

Although the number of property sales in July increased compared to the same month last year, there are signs that the 28% increase in the number of sales recorded in the first half of the year may be slowing.

The number of properties sold in July was up 12% compared to the same month last year. The total number of sales in July 2023 reached 1,362 transactions. The largest number of transactions was recorded in Limassol, and a decrease was recorded in Nicosia.

Sales to foreigners (non-Cypriots) increased by 19% compared to July 2022. Paphos recorded the highest number of transactions (214), followed by Limassol (182), Larnaca (151), Nicosia (39) and Famagusta (29).

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