Cyprus property sales in July 2016 increased by 26% in comparison with July 2015

Aug. 17, 2016

Cyprus property sales in July 2016 increased by 26% in comparison with July 2015

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

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