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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.


Cyprus Citizenship Passport

Cyprus Citizenship Passport  

The Cyprus government has approved a revised citizenship-by-investment scheme, Cyprus Citizenship Passport . Designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

THE COUNCIL of Ministers approved on Tuesday the 13th September 2016, a revised scheme for granting Cyprus Citizenship Passport to non-Cypriot entrepreneurs/investors.
In statements to the press on Wednesday, Minister of Finance Harris noted that the revision of the scheme aims to encourage real investments that would benefit the economy.
The government, he said, wants to attract investors who will chose Cyprus as their basis of residence and economic activity.
Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens.
The most important change, Georgiades said, is that the revised scheme abolishes the provision for collective investment of €12 million, which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.
The new scheme, terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million. Also to persons whose deposits have been impaired due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 Million read more about it here

Contact us today for further information

Property sales Cyprus

Property sales Cyprus

Property sales Cyprus increased by 50 per cent in August compared August last year according to the latest official figures published by the Department of Lands and Surveys.

Property sales to the domestic (Cypriot) market in August rose 44% compared to August 2015, with sales reaching 346 compared with 241 in the same month last year.

Sales rose in all districts with Famagusta leading the way with sales up 129% compared to August 2015. Sales in Nicosia rose 61%, while sales in Limassol, Paphos and Larnaca rose by 55%, 38% and 8% respectively.

During August a total of 451 contracts for the sale of commercial and residential properties and land (building plots and fields) were deposited at Land Registry offices across the island; up 50% from the 496 sold during August last year.
Of those 451 contracts, 69% (346) were deposited by domestic (Cypriot) purchasers, while 31% (105) were deposited by overseas (non-Cypriot) purchasers.
The 50% increase in August follows a 26% increase in July, 42% increase in June and a 17% increase in May.
The number of contracts includes ‘non-sale’ agreements such as loan restructurings, recoveries and debt-to-asset swaps agreed between the banks and defaulting borrowers. As these ‘non-sale’ agreements are not recorded separately, there is no clear picture of the actual demand for property in the domestic market.
Sales rose in all districts with Famagusta leading the way with sales up 193% compared to August 2015. Sales in Nicosia rose 73%, while sales in Paphos, Limassol and Larnaca rose by 55%, 48% and 8% respectively.

Property sales Cyprus

Total Property Sale Transactions – 2015/2016 Comparison

District Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Nicosia 2015 46 45 83 88 86 61 60 37 65 64 60 54
2016 54 79 82 79 82 98 102 64
Famagusta 2015 16 27 17 17 21 33 45 14 30 29 33 42
2016 22 35 33 35 24 34 27 41
Larnaca 2015 90 71 98 67 68 111 95 75 85 87 111 114
2016 78 108 121 127 103 120 123 81
Limassol 2015 95 97 160 115 135 135 156 87 114 166 137 169
2016 92 179 197 166 145 222 220 129
Paphos 2015 74 85 94 94 95 124 140 88 91 117 105 134
2016 81 100 106 107 120 183 153 136
2015 321 325 452 381 405 464 496 301 385 463 446 513
2016 327
501 539
474 657
625 451
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We first visited Cyprus 3 years ago and fell in love with the island, but then who wouldn't. One day we knew we would want to go and spend the rest of our lives there.

Having researched the possibilities for about the last...

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