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The decline in real estate prices has noticeably slowed down


 According to the Central Bank of Cyprus, apartment prices in Cyprus on average fell by 2.1% and house prices by 1.8%.  

The largest decline in prices for apartments was noticed in Famagusta, as it reached 4.5%. In Larnaca, the property prices fell by 3%. With regards to Paphos and Limassol prices for the apartments fell by 2.8% and 2.1%, while in Nicosia only by 1.4%.

The most significant decline in house prices was recorded in Nicosia and Larnaca, which is 2.1% and 1.9%. Prices for the houses in Limassol were decreased by 1.9%, in Famagusta by 1.3%, while in Paphos - 0.1%.

Another significant change that has occurred in the property market of Cyprus is the sales growth. The amount of contracts that was deposited at the Land Registry office in July has reached a total of 407 for the sale of commercial property, residential property and plots of land, which is 15% more if compared to 354 contracts deposited in June 2013.

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