PROPERTY sales in Cyprus increased for the sixth consecutive month in August with sales increasing in most districts compared to August 2013.
During August a total of 335 contracts for the purchase of ‘immovable property’ (i.e. commercial and residential properties and land) were deposited at Land Registry offices across Cyprus; a 25.9% increase on the 266 contracts deposited during the same period last year.
However, the number of sales in Nicosia and Paphos declined compared to August last year, falling by 13.1% and 10.6% respectively.
Meanwhile, sales in Limassol more than doubled at 122.8%, while those in Larnaca and Famagusta rose by 35.0% and 8.7% respectively compared to August last year.
Property sales (year to date)
During the first eight months of 2014 the number of properties sold reached 2,995; a 23.2% increase on the 2,399 sold during the first eight months of 2013.
With the exception of Paphos, where sales have fallen 2.3% compared to last year, sales have increased in all the other districts with sales in Limassol up 51.6%, sales in Famagusta up 40.1%, and sales in Larnaca and Nicosia up by 24.6% and 21.7% respectively.