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Increase of Property Sales in March 2017

10.04.2017

In March 2017 property sales went up on 16% compared to March 2016 according to the Department of Lands and Surveys. 

During March  626 contracts for the sale of residential and commercial properties and land were deposited at Land Registry offices, compared with the 539 deposited last year.

 Of those 626 contracts, 440 (70%) were deposited by Cypriots and 186 (30%) were deposited by foreigners. The number of sales contracts in Larnaca and Nicosia dropped by 7% and 4% respectively, but went up in the other districts. Paphos increased sales up 53% compared to March 2016, while sales in Famagusta and Limassol were up 21% and 18% respectively.

During the first quarter of 2017, sales contracts have risen 10% compared with the first quarter of 2016.

To know all updates in Cyprus property market follow the news on our website with specialists of Relux Estates.

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