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Signs of rising Cyprus property sales graph

The number of property sales in Cyprus increased for your seventh consecutive month in September in comparison to last year with sales up in the two domestic and the offshore markets.

Signs of rising Cyprus property sales

Signs of rising Cyprus property sales increased for your seventh consecutive month in September than the same period in 2013 using the latest figures from the actual Cyprus Department of Lands and also Surveys.

During September a complete of 373 contracts for your purchase of ‘immovable property’ (electronic. commercial and residential properties and land) were lodged at Land Registry office buildings across Cyprus; a 31 per cent increase on the 285 legal papers deposited in September 2013.

Of those 373 legal papers, 107 (26%) were deposited for overseas buyers, while the remaining 266 (74%) were deposited for domestic buyers.

With the actual exception of Nicosia, where the volume of sales fell 27%, sales improved in all of the other districts compared to 2013. Sales in Paphos increased by 76% the ones in Limassol rose 76%; gross sales in Larnaca and Famagusta went up by 20% and 9% respectively.

Full Signs of rising Cyprus property sales September 2014

Speaking to Stockwatch the vice president in the Cyprus Real Estate Agents’ Organization Solomon Kourouklides said that a lot of sales were not ordinary gross sales, but that land entrepreneurs and developers were seeking to make sales with initiatives to service their financial obligations before legislation on repossessions is actually enacted. A lot of other buyers are gaining from lower market prices.

Signs of rising Cyprus property sales year to date

During the primary nine months of 2014 signs of rising Cyprus property sales reached 3, 328; a rise of 644 (24%) on the 2, 684 sales achieved throughout the first nine months associated with 2013.

Sales in Limassol are up 50% in comparison to last year, while gross sales in Famagusta are up 37%. Sales in Larnaca are generally up 24% and gross sales in Nicosia have grown 16%; although sales inside Paphos are up, their numbers have increased by way of mere 4. 2%.

Home-based property sales

Although domestic sales inside September rose by 28% in comparison to last year, this increase was due a 184% increase in Paphos and a 51% increase in Limassol. Gross sales in Famagusta declined 50%, while those in Nicosia and also Larnaca fell 33% and 17% respectively on the nine month period.

Year to date sales

During the primary nine months of 2014 sales from abroad reached 1, 927; a rise of 398 (26%) around the 1, 529 sales achieved throughout the first nine months associated with 2013.

Sales in Limassol are up 49% in comparison to last year, while gross sales in Nicosia are up 23%. Sales in Famagusta are generally up 20% and gross sales in Larnaca and Paphos have risen 19% and 10% respectively.

International property sales

Sales to the offshore market rose 31% in September than the same month last season. Sales increased in all districts with the exception of Paphos, once a United Kingdom expatriate hot-spot, where the number fell to 37 from 40 in 2013 a drop of 8%.

Allowing for that, overseas sales want to recover from a minimal base, 15 sales have been achieved in Famagusta (up 400%), 26 sales in Larnaca (up 189%), 7 inside Nicosia (up 17%) and also 22 in Limassol (up 16%).

During the nine months since January of 2014, sales for the overseas market reached 886; a rise of 149 (20%) around the 737 sales achieved throughout the first nine months associated with 2013.

Sales in Famagusta are generally up 124%; those inside Larnaca are up 48%, though sales in Nicosia and also Limassol are up 38% and also 24% respectively.

However, sales in Paphos have got fallen to 331 throughout the first nine months associated with 2014 from 352 throughout the same period last season; a fall of 6%.

Courtesy of Cyprus Property News

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