Cyprus property sales market has grown over the past year by 15%

According to the Department of Lands & Surveys, it can be noticed that the property market in Cyprus is recovering from the financial banking crisis that has been caused by the liquidation of one of the largest banks on the island Laiki Popular Bank.

According to the results of real estate sales in 2015, the number of sales transactions of residential and commercial real estate totaled a number of 464 property projects. For example, an amount of transactions in June this year was 15% more than in the same period during the year 2014.

If you analyze a number of sales in every town of Cyprus, in Larnaca, the amount of sales transactions grew by 37%. In the capital of Cyprus Nicosia and in the cultural center of the island - Paphos, the real estate sales increased by 13%. Limassol, unlike other towns has started losing it position of a market leader on the island. Not only the number of transactions has not increased this year, but decreased by 3%. However, despite these statistics, Limassol is still attracting the largest number of investors among all the other cities of the island.

Overall, in the first half of the year 2015, the number of transactions has increased by 6% in comparison to the last year.