Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 4th July 2020
Home Property Sales Cyprus property sales improving

Cyprus property sales improving

ACCORDING to figures released by the Department of Lands and Surveys, 864 property sale contracts were deposited at Land Registries throughout Cyprus during June, the highest number since June 2009.

Throughout the first six months of 2010 the number of property sale contracts deposited at Land Registries throughout Cyprus amounted to 4,408 compared to 3,591 during the same period last year; an increase of 23%.

As we reported last Wednesday in the article Sales to non-Cypriots improving slowly, foreigners account for 928 (21.1%) of these contracts.

So far this year, property sales in Nicosia are up by 34% followed by Limassol and Famagusta, where sales have increased 22% and 21% respectively, while sales in Paphos have increased by 19% and sales in Larnaca 13% compared to last year.

Sales of property in Cyprus to June 2010
Source: Department of Lands and Surveys

Although property sales so far this year are up by nearly a quarter on last year, they are still less than a half of the number sold during the same period in 2008.

1 COMMENT

  1. Good to see – but of course we don’t know if these are just rock-bottom price distressed asset sales though.

    Can we (like the UK) see what the sales went through at? (@Richard – unfortunately no)

    Thanks for the continued excellent input on this website.

Comments are closed.

WEATHER FORECAST

EXCHANGE RATES

EUR - Euro Member Countries
GBP
1.1102
RUB
0.0124
CNY
0.1258
CHF
0.9404

TOP STORIES

Commission approves Cyprus’ airlines incentive scheme

The European Commission has approved a €6.3 million Cypriot incentive scheme towards airlines affected by the coronavirus outbreak, supporting tourism and possibly the overseas property market.

Cyprus property sales recovering

Property sales in Cyprus showed signs of making a recovery in June following the Government's easing of lockdown measures and its decision to subsidise housing loans.

Cyprus tightens grip on ‘golden passport’ scheme

Cyprus has not processed any passport applications of a foreign investor since January, pending the approval of tougher criteria regulating the Citizenship for Investment Scheme.

Guide to residency in Cyprus

This guide to residency in Cyprus for UK nationals has been issued by the British High Commission in Nicosia to explain the importance of obtaining or updating their residency status.