Provided by
Property sales drop in numbers and value
Real estate sales contracts registered in the Land Registry and Cadaster decreased both in terms of number and value in 2022 compared with the previous year. Total value decreased 7.6 percent to $14.4 billion while the number of registered transactions dropped 27 percent to nearly 80,000. The most active periods in 2022 were the first quarter and from the beginning of summer through to November. The number of registered transactions had jumped by 63 percent in 2020 and 34 percent in 2021. The decrease in registration was mainly the result of the frequent closures of the Land Registry and Cadaster and the lack of power supply, said , Chairman
