Paphos Dominates Property Sales to Overseas Buyers in 2024
In the realm of real estate sales, Paphos has once again emerged as the leading destination for overseas buyers looking to invest in Cyprus. The latest Pancyprian sales statistics reveal a robust performance by the coastal city, which has secured a total of 665 property sales out of the 1,962 transactions recorded island-wide this year.
Following closely behind Paphos, Limassol has claimed the second spot with 530 property sales to international buyers. Larnaca has not been far off the pace, securing third place with 471 sales, while Nicosia and unoccupied Famagusta trail with 187 and 109 sales respectively.
The allure of Paphos extends beyond its picturesque landscapes and historical landmarks, as it also leads in attracting buyers from both inside and outside the European Union. With 487 properties sold to non-EU investors and an additional 178 to EU nationals, Paphos’s appeal is evidently widespread. In comparison, Limassol reported 397 sales to non-EU buyers and 133 to those within the EU, Larnaca saw 360 and 111 respectively, Nicosia had 89 and 99, and free Famagusta accounted for 66 and 43.
Leptos Group, a prominent player in the Cypriot real estate market, has expressed both satisfaction and optimism regarding these figures. The group recognizes the significance of Paphos’s consistent performance, which not only reflects the city’s attractiveness but also underscores the importance of the real estate sector to the economy and society of Cyprus.
As Paphos continues to cement its position as a top choice for property sales among overseas buyers, stakeholders in Cyprus’s real estate industry remain hopeful for sustained growth and prosperity in this vital sector.
