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Cyprus Property Sales Up Again

Cyprus Property Sales Up Again

The department of Land and Surveys reported a huge 121%t rise in the number of property sales contracts deposited at Land Registry offices across Cyprus during December 2015, compared with December 2015.

Of the 1,134 contracts, 780 (69%) were deposited by domestic (Cypriot) purchasers, while 31% (354) were deposited by overseas (non-Cypriot) purchasers. Sales rose in all district compared with December 2015. In percentage terms Limassol and Nicosia led the way with sales up 156%. Meanwhile, sales in Paphos, Famagusta and Larnaca rose by 137%, 107% and 18% respectively.

Property sales to the overseas (non-Cypriot) market, rose 162% compared with December 2015, with 354 properties sold compared with 135 in the same month last year. Overseas sales rose in all district compared with December 2015. In percentage terms Famagusta led the way with sales up 1400% (having sold just one property in December 2015) followed by Paphos, where sales rose by 227%. Meanwhile, sales in Nicosia, Limassol and Larnaca rose by 180%, 172% and 18% respectively.

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