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Cyprus Propert Sales Increase

Cyprus Property Sales 

Cyprus’ number of property transactions island-wide reported in June to authorities rose 15 per cent to 464 compared to the respective month of 2014, the department of lands and surveys said.
The overall increase was mainly on an annual 20 per cent rise in real estate transactions in the district of Paphos which rose to 124 in June, more than offsetting a 3 per cent drop to 135 of those in Limassol, the department said in a statement on its website.

The number of Cyprus Property Sales transactions rose in the districts of Nicosia, Larnaca and Famagusta 13 per cent, 37 per cent and 27 per cent to 61, 111 and 33 respectively reports Cyprus Mail

THE NUMBER of Cyprus Property Sales properties sold in Cyprus during June increased 15 per cent compared with June 2014 with sales improving in all districts with the exception of Limassol.
Industry pundits anticipate that the recent announcements by the government to resolve the ‘hidden mortgage’ problem and reduce Property Transfer Fees by 50 per cent will help boost the market. (Further announcements concerning a planning amnesty are anticipated.)
In June a total of 464 contracts for the sale of commercial and residential properties and plots of land were deposited at Land Registry offices across Cyprus, compared with the 403 contracts deposited in June last year.
Although sales fell 3% in Limassol, they increased in all the other districts. Sales in Larnaca rose 37% to reach 111 compared to the 81 sold in June 2014.
Sales in Famagusta went up 27%, while those in Paphos & Nicosia increased by 20% and 13% respectively.

Overall sales during the first half of 2015 are up 6% compared with the first half of last year with sales reaching 2,348 compared to 2,213.
Although sales in Limassol fell in June it remains the most popular place for those buying property, with half-year sales reaching 737. Paphos is in second place with 566 sales, followed by Larnaca (505), Nicosia (409) and finally Famagusta (131).
Courtesy Cyprus Property news Magazine
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