Property transactions increase in Cyprus

PUBLICATIONS / Articles / 2017 / Property transactions increase in Cyprus
The number of property transactions rose 59 per cent in May, to 756 island-wide — the highest this year — compared to the respective month of 201, the land registry said.
 

The increase was mainly on a 106 per cent annual rise in the number of properties that changed hands in the Limassol district, which rose to 298 in May, the department said in a statement on its website.

The number of property transactions in Nicosia rose 44 per cent, to 118. The number of properties that changed owner in Larnaca, Paphos, and Famagusta districts rose 16 per cent, to 119, 53 per cent, to 183, and 58 per cent, to 53 respectively.

In January to May, the number of property transactions rose 17 per cent, to 2,767, the department said. The figures include properties acquired by banks as part of restructuring agreements.

In the first four months of the year, the total number of foreigners acquiring property in Cyprus was 263 compared to 273 in the respective four-month period of 2016. No data on property acquisitions by foreign buyers in May were available.

 

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