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Crisis deepens as Cyprus property sales continue to tumble

The crisis in the Cyprus real estate industry continues to deepen with sales of property falling for the twelfth consecutive month and sales so far this year lower than those of 2008; the year the market crashed.

Property sales continue to weaken

Figures published yesterday by the Department of Lands and Surveys reveal that property sales continue to weaken with the number of properties sold during May falling for the eleventh consecutive month.

Property sales slip to lowest level since January 2009

The number of properties sold in April slipped to their lowest level since January 2009 threatening the fragile recovery in the Cypriot economy.

Property sales fall for ninth consecutive month

Property sales in Cyprus fell for the ninth consecutive month during March and recorded the largest fall over the past 15 months, heightening fears that the crisis in the real estate sector may be worsening.

Property sales continue fall in February

February 2011 saw a further drop in property sales in Cyprus compared with the same period last year, with the number of properties sold down by 14 percent.

Property sales in Cyprus slump to a 2 year low

Property sales in January hit a year low heightening concerns that the real estate sector will continue to suffer problems in 2011.

Sales up in 2010 but outlook bleak

Despite the continued fall in sales over the last six months of 2010, the number of properties sold in Cyprus increased by five percent over the year compared with 2009.

Overseas property market recovering despite problems

The Cyprus overseas property market is showing signs of recovery in spite of its problems, with sales to non-Cypriot buyers up fifteen percent in 2010 compared with 2009.

Overseas sales remain steady in November

The Cyprus overseas property market remained steady last month with sales during the first eleven months of this year maintaining their 8 percent increase on the numbers sold during the first eleven months of 2009.

Total sales continue to fall during November

The number of properties sold in Cyprus fell for the fifth consecutive month during November, sparking worries of the difficulties facing the market in 2011.

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