For the fourth consecutive year Cyprus property sales rose during 2017 according to the latest official statistics published earlier today by the Department of Lands and Surveys in Nicosia.
DESPITE continuing problems with Title Deeds, property sales in Cyprus rose 24 per cent during 2017 according to official statistics published by the Department of Lands and Surveys. This follows an annual rise of 43 per cent in 2016, 9 per cent in 2015 and 20 per cent in 2014.
December property sales
During December 2017 total of 1,537 contracts for the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with the 1,134 deposited in December. 2016; an increase of 36% and the highest number since July 2008.
Sales rose in all districts. In percentage terms Nicosia (the capital) led the way with a rise in sales of 113% followed by Famagusta with an increase of 94%. Meanwhile sales in Limassol, Larnaca and Paphos rose by 23%, 18% and 10% respectively.
Total Property Sale Contracts – 2016/2017 Comparison
(We will publish the annual statistics for domestic and foreign sales once they have been released by the Department of Lands & Surveys.)
Cyprus Property News