In September 2014, the number of property sales in Cyprus raised by 31% (373 transactions) in annual terms. At the same time, every fourth transaction (26% of all transactions, or 107 ones.) was made with foreigners. And in January-September 2014, there were 3,328 property sale-purchase agreements signed on the Cyprus, which is 24% more than in 2013 informs the ee24.com with reference to the new data published by the Land Department of Cyprus.
In September 2014, the growth of real estate sales to foreigners was observed in Famagusta (applies to Northern Cyprus, 15 transactions, +400%), Larnaca (15 transactions, 189%), Nicosia (part of Northern Cyprus; 7 transactions, 17%) and Limassol (22 deals, 16%). The decline was fixed in Paphos (-8%). In 2014, there was a 20% increase in the number of transactions with foreigners (886 already finished transactions).
As for the Cypriots themselves, the locals are actively buying real estate in Paphos (+184%) and Limassol (+51%). But the local interest in Famagusta (-50%), Nicosia (-33%) and Larnaca (-17%) has decreased. Overall, in 2014 there was already a 26% increase in the number of transactions (1,927 transactions) with the locals in comparison with 2013.