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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.

Investments in Cyprus construction continue to fall

October saw a sharp fall in the number of building permits issued in Cyprus according to figures published earlier today by the Island’s Statistical Service which show a drop of 19 percent compared with October 2010.

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.

Property prices under pressure

According to figures released by the European Central Bank on Tuesday, property prices in Cyprus fell by 4.9 percent during the first half of 2011, almost twice the fall experienced in 2010.

Residential property construction in meltdown

Cyprus Statistical Services figures published earlier today reveal that the number of residential properties for which building permits have been issued has dropped by more than 4,000 compared to last year.

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