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Property Sales

Home sales continue slide despite incentives

Despite cuts in VAT and transfer taxes, and revised laws designed to improve consumer protection, the number of properties being sold in Cyprus is continuing to decline according to government figures.

Property sales in Cyprus tumble after a promising start

The number of properties sold in Cyprus during February fell 26 percent compared with the number sold in February 2011, after having risen in January for the first time in nineteen months.

Domestic sales improve – overseas sales decline

Although the number of properties sold to Cypriot buyers improved for a second consecutive month in January, there is still no sign of a recovery in the Island’s overseas property market where the number of sales continues to decline.

Encouraging signs in domestic property sale figures

Although the overall picture for property sales in Cyprus last year was extremely disappointing, there are some positive signs in the figures for December, which show that domestic sales increased.

Property sales in Cyprus plummet to lowest on record

The number of properties sold in Cyprus during 2011 fell to their lowest level since records began according to the figures published earlier today by the Department of Land and Surveys.

Overseas property sales in 2011 lowest for ten years

The dramatic collapse of the Cyprus overseas property market, which has left thousands of partly built holiday apartments and villas littering the Island’s seaside towns and villages, continued in 2011 with sales falling to a 10 year low.

Slump in property sales to overseas buyers deepens

Just six properties were purchased in Nicosia by overseas property buyers in November, while the total number of overseas sales during the month was down by 43 percent on the number sold in November 2010.

November property sales hit 35 month low

The number of properties bought and sold in November hit a 35 month low according to the latest figures from the Department of Lands and Surveys amid the worsening economic situation, record levels of unemployment and lack of liquidity.

Cyprus property sales down 21 percent in October

The Cyprus property market shrank by 21% in October compared with October 2010 and the number of sales recorded so far this year are down by more that 11% on the number sold in 2009, the year the market collapsed.

Cypriot real estate sales in freefall

There seems to be no way to stop the rapid decline in Cyprus property sales, which have been falling since July 2010 and which are now at levels lower than the year the market crashed in 2009.

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