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Cyprus Property sales continue to rise 2018

Cyprus continues to expand and is the fastest growing country in the EU. Tourist beds will rise in Famagusta by 3000 in 2018. All sections of the economy are expanding rapidly and are expected to grow even more in 2018. 

During the first eleven months of 2017, the number of new homes for which permits have been issued rose by 41.9% to reach 4,614. Of those 4,614 new homes, 1,766 are being built in Limassol, 1,270 in Nicosia, 711 in Paphos, 601 in Larnaca and 266 in Famagusta.

According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.

The number of new homes in Cyprus for which building permits have been issued rose by 93.0 percent in November 2017 compared to November 2016 according to the Cyprus Statistical Service.

Its now looking more like Cyprus will become the safest Mediterranean island and property prices will rise quickly with a quick recovery from the 2013 crash. 

Its time to start looking for your dream holiday or permanent residence before its too late and prices reach heights only millionaires can afford.

Contact us today for more information or browse all our properties in Cyprus 

Cyprus Property sales continue to rise 2018


Cyprus Property sales surge

Cyprus Property sales surged by 54% in February compared to the same month last year according to official figures issued by the Department of Lands & Surveys.
This 54% rise in February follows a 2% rise in January and a 13% rise in December 2015.
February saw a total of 501 contracts for the sale of commercial and residential properties and land (building plots and fields) being deposited at Land Registry offices across; the highest monthly figure recorded since May 2014 when 551 contracts were deposited.
Cyprus property sales increased in all districts, with Limassol leading the way with an 85% increase in sales compared with February last year. Sales in Nicosia rose 76%, while those in Larnaca, Famagusta and Paphos rose by 52%, 30% and 18% respectively.
During the first two months of 2016 sales have risen 28% to reach 828. This exceeds the number of sales during January and February of 2013 that preceded the island’s bailout.

This significant Cyprus property sales surge in demand for property may be attributed to lower lending rates being offered by the banks and simpler procedures for granting loans, together with an improving economic climate and consumer confidence.
In the coming year we expect to see structural changes implemented to accelerate the issuance of Title Deeds. Whether this will enable Title Deeds to be issued by the time a purchaser takes delivery of a property remains to be seen; but things are moving in the right direction.
We will update this article with a further analysis of the sales statistics as soon as the Department of Lands and Surveys publishes the figures.

Cyprus Property Sales.

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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