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Monthly Archives: December 2016

Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent in November 2016 Cyprus property sales continued their upward trend in November 2016 with sales rising by 46 per cent compared to November 2015 according to official figures from the Department of Lands and Surveys.

November’s increase follows a 37% increase in October, a 50% increase in September, and a 50% increase in August.

Of those 651 contracts, 463 (71%) were deposited by domestic (Cypriot) purchasers, while 29% (188) were deposited by overseas (non-Cypriot) purchasers.

With the exception of Famagusta, where sales fell 42%, sales rose in all district compared with November 2015.

In percentage terms Limassol led the way with sales up 82%, followed by Famagusta, where sales rose by 74%.

Meanwhile, sales in Nicosia and Larnaca rose by 43% and 3% respectively.

During the first 11 months of 2016 property sales have risen 34% to reach 5,929 compared with 4,439 during the first 11 months of 2015.

Sales have increased in all districts. Sales in Limassol have risen 48% and by 28% in Famagusta, Nicosia and Paphos. Meanwhile, sales in Larnaca have risen by 24%

In 2017 sales are expected to increase as the island becomes more and more affluent and out of recession with unemployment falling and tourism increasing year on year. 2016 was a record year for tourism in Cyprus.

So with Cyprus property sales up 46 per cent could be a good time to buy property for sale in Cyprus, contact us for more information here

We are here to help in every way possible to make your search for that fantastic Cyprus property an enjoyable experience.

Read the testimonials from our previous clients who are still enjoying thier life in the sunshine on the fantastic island of Cyprus. Why not take the plunge and come and see for yourself the laid back lifestyle, the fantastic food and people.

During the first eleven months of 2016 sales to the overseas (non-Cypriot) market are up 20% compared with the first eleven months of 2015 with sales reaching 1,459 compared with 1,214 during the corresponding period last year.

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