Aug. 17, 2016
According to the Land Department of Cyprus, in July 2016 the sale of real estate increased by 26% compared with July 2015. In June the number of transactions increased by 42% and in May - by 17%.
In July of this year, the Cadastral service has registered 625 contracts. Over the same period of last year were issued 496 contracts. Thus, the number of transactions increased by 26%.
The growth of sales in Nicosia is 70%, in Limassol – 41%, in Larnaca – 29%, in Paphos – 9%.
69% of 625 contracts were made by locals (Cypriots), while the share of transactions involving foreigners accounted for 31%. In July 2016, foreigners purchased 191 object. The largest share of foreign buyers has been observed in Famagusta (53%). The least was in Larnaca (9%).
Auction estate demand is very weak. Of the 43 properties listed for auction in July, were sold only 6.
For the first 7 months of 2016 the sale of real estate in Cyprus increased by 28%, reaching 3637 contracts (against 2844 contracts in the first 7 months of 2015).
Based on the materials of news.cyprus-property-buyers.com