Strong growth in property sales
The Department of Lands and Surveys reports that the number of property sales contracts deposited at Land Registry offices across Cyprus in February 2018 rose 46 per cent compared to February 2017. This rise follows a rise of 64% in January, 36% in December, 39% in November and an 18% rise in October.
During February a total of 666 contracts or the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with the 456 deposited in February 2017. This is the highest number of contracts deposited during February since 2010 when 704 contracts were deposited. Although sales in Larnaca fell by 1%, they rose in all the other districts.
In percentage terms Famagusta led the way with sales rising by 174% followed by Paphos, where sales rose by 87%. Meanwhile sales in Limassol and Nicosia rose by 45% and 32% respectively.