Property transactions with foreigners in Cyprus decreased by one third

Property transactions with foreigners in Cyprus decreased by one third

The number of foreign buyers in Cyprus continues to decline. In January 2013 non-residents signed 72 deals (19.2% of the total transactions), so it’s 32% lower than a year earlier. In addition, the Cypriots purchased by 394 residential units less than in January 2012 (-57%), reported Cyprus Property News with reference to the Land Department.

Only in January 2013 were sold 375 properties in Cyprus. It’s the worst figure in the history of statistics.

Strongest sales falling was in Nicosia (-77%), Larnaca (-77%), Famagusta (-70%) and Limassol (-61%). A small drop of real estate market in January 2013 was in Paphos (-9%).