Property sales figures in Limassol have grown by 71%

September 2016 was marked by an increase in property deals all across the country. The biggest leap has been observed in Limassol, where the sales surged by 71%, followed by Larnaca (at 42%), Paphos (at 40%) and Nicosia (25%). Famagusta region has the lowest surplus estimated at 7%.

A total number of contracts include not only buying/selling deals, but also agreements between banks and proprietors aimed at mortgage restructuring, title of deeds restoration etc. Thus, it is difficult to estimate the growth of the demand accurately. However, the general positive trend is ultimately observed.

Cyprus real estate market is clearly recovering. In the last few months the number of registered transactions in the country has multiplied. In August, an annual increase of 50% was set, respective figures for July and June are 25% and 42%. In the first month of autumn up sales grew by 44%, according to Cyprus Property News, citing data from the Department of Land and Surveys.

In September of this year, 556 transactions involving residential and commercial real estate have been registered on the island. In the same period last year the figure stood at 385 transactions.