In August, most transactions took place in Paphos and Limassol where they rose 55% to 136 and 48% to 129 respectively, the Department of Lands and Surveys said in a statement on its website on Monday.

The number of property transactions in Nicosia rose in August an annual 73% to 64 while those in Famagusta almost tripled to 41, the department said. In Larnaca, the number of properties which changed ownership rose 8% to 81.

In January to August, the overall number of property transactions rose 30% to 4,088, which also include properties acquired and subsequentlyre-sold by banks as part of loan restructuring agreements, the department said.

According to a separate statement, the total number of properties acquired by non-Cypriots in August was 56, which is 24% more compared to the respective month of 2015. In January to August, the number of properties sold to foreign buyers rose 68% to 593.

Overall, foreign buyers focused their purchasing spree in the first eight months of the year mainly in Paphos, Limassol and Nicosia, where they bought a total of 179, 178 and 110 properties respectively, 72%, 82% and 144% more compared to the respective period of 2015, the land department said. Purchases by foreign buyers in Larnaca rose 32% to 103 while in the Famagusta district they fell 18% to 23.

Source: Cyprus Mail