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Property sales collapse as crisis deepens

Property sales in Cyprus plummeted in March as the financial crisis deepened as a consequence of the decisions taken by the Eurogroup to impose savage bailout conditions on the island.

Hope for property sales in Cyprus

Although Cyprus continues to negotiate a bailout deal with the Troika, there are some early signs that domestic and overseas buyers are returning to Paphos despite the economic uncertainties.

Property sales in 2012 reached €1.9 billion

Figures released by the Department of Lands and Surveys earlier this week report that property sales in Cyprus reached €1.9 billion in 2012, while more than 100,000 Title Deeds were issued.

The declining Cyprus property market

Further details on the declining Cyprus property market were revealed today in new statistics published by the Department of Lands and Surveys showing that the number of overseas buyers continues to fall.

Great Cyprus property crash continues in 2013

Property sales in Cyprus are on course to set an all-time record low in 2013 with sales in January down by more than 50 per cent on the corresponding month last year, posting the lowest monthly figure on record.

Sales in 2012 plummet to record low

The number of properties sold in Cyprus fell to a record low in 2012 with local pundits predicting that this year will be worse than last, while the Financial Mirror concludes that 2013 will be another “Annus Horribilis”.

Domestic sales tumble

Sales of property in Cyprus to the domestic market during December fell more than 40 per cent compared with December 2011, while sales over the year were at their lowest level this century.

Are overseas buyers returning?

For the second month in succession, the number of properties sold to overseas buyers increased in December with properties in Paphos accounting for 50 per cent of sales to non-Cypriots.

Signs of recovery in overseas sales

Efforts to promote Cyprus into new markets seem to be paying dividends as the number of properties bought by non-Cypriots jumped in November although some have complained of paying grossly inflated prices.

Decline in property sales slows

Although the number of properties being sold in Cyprus continues to fall, sales in Paphos and Larnaca increased in November and the overall rate of decline is the lowest in recent months.

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