On 6 April 2015, the government of Cyprus eliminated the last of the capital controls, which were imposed in April 2013 to overcome the banking crisis. For example, travelers abroad took no more than €10,000; monthly money orders did not exceed €20,000 and so on.
"The lifting of the restrictions confirms the full restoration of confidence in the banking system, the significantly improved business climate and essentially marks the return of the economy to normal conditions," said Cyprus government spokesman Nikos Christodoulides.
According to the Cyprus Department of Lands and Surveys, in March 2015, the number of property transactions (with housing, commercial and land) increased by 31% compared with March 2014. The growth was registered in Limassol (60%), Larnaca (38%), Nicosia (34%) and Paphos (8%), although the sales decreased by 29% in Famagusta.
In March 2015, 452 transactions were concluded in Cyprus, out of which 41 – by foreigners. It's by 60% less than in March 2014. The main reasons are a weak ruble, a robbery the Chinese and a fraud suffered by the Lebanese, reports news.cyprus-property-buyers.com.
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