The strong growth in Cyprus property sales continued inFebruary with the number of properties sold rising in all districts (with theexception of Larnaca) according to official figures.
THE DEPARTMENT of Lands and Surveys reports that the numberof property sales contracts deposited at Land Registry offices across Cyprus inFebruary 2018 rose 46 per cent compared to February 2017.
This rise follows a rise of 64% in January, 36% in December,39% in November and an 18% rise in October. During February a total of 666contracts of the sale of residential and commercial properties and land(building plots and fields) were deposited at Land Registry offices acrossCyprus, compared with the 456 deposited in February 2017. Of the 666 contracts,306 (46%) were deposited by domestic (Cypriot) purchasers, while 54% (360) weredeposited by overseas (non-Cypriot) purchasers.
This is the highest number of contracts deposited duringFebruary since 2010 when 704 contracts were deposited. Although sales inLarnaca fell by 1%, they rose in all the other districts. In percentage termsFamagusta led the way with sales rising by 174% followed by Paphos, where salesrose by 87%. Meanwhile sales in Limassol and Nicosia rose by 45% and 32%respectively.
During the first two months of 2018 the number of contractsfor the sale of property deposited at Land Registry offices has risen 55% to1,361 compared to the same period last year. The highest rise of 150%, wasrecorded in Famagusta, followed by Paphos with a 79% increase. Significantincreases were also recorded in Nicosia (67%) and Limassol (56%), while thesmallest increase (4%) was recorded in Larnaca.