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Latest Cyprus Property Sales Data

Latest Cyprus Property Sales Data December and January are traditionally the quietest period for sales and this year was no exception.  The news coming out of Cyprus as most of you know has not been positive and the bailout negotiations continue.  There are presidential elections on the 17th of February and the whole country of Cyprus is hoping that the new regime will finalise the deal so that we can move forward into the new era.  Bailout conditions are harsh but we believe that in the long run they will benefit the country and make it a much better place!  The worst thing for a property market is uncertainty – with the message from buying clients that they want to “wait and see what happens”.

However now may be the time to buy Cyprus Property as there are many many bargains around, the Chinese are actively buying properties as it afford them residency which could actually drive up the prices in the future.

On the positive side enquiries are increasing significantly with new clients booking trips to Cyprus with a view to buying properties in Cyprus.   Local viewing activity in January was actually better than expected.

Overall sales figures are extremely poor in the region with only 22 completions recorded in January in Famagusta and 375 island wide.  Sales figures for 2012 were extremely disappointing and the lowest since records began in 2000.

 

Sales chart

          Sales_chart

Latest Cyprus Property Sales Data

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Having researched the possibilities for about the last...

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