As per the Department of Lands and Surveys, in terms of regional distribution of the total contracts of sales during 2019, the majority of the sales were in Limassol (33.9%), followed by Paphos (25.4%), Nicosia (19.3%), Larnaca (15.1%) and Famagusta (6.3%). In the same period, in terms of building permits per region Nicosia represented the highest proportion of the total number of building permits issued (35.1%), followed by Limassol (30.3%), Larnaca (15.7%), Paphos (14.6%) and Famagusta (4.3%). Based on this data, it is safe to say that in the short-term, due to oversupply, property prices in Nicosia should subside whilst all other regions should see a relative growth in property value as life begins to normalize post-COVID-19.
