Property sales increase in March 2014

Property sales in March 2014 increased 20% compared to thecorresponding period last year, according to official statistics published recently by the Department of Lands and Surveys.

During March a total of 344 contracts for the sale of commercial and residential properties and plots of land were deposited at Land Registry offices across Cyprus; an increase of 20% on the 286 contracts deposited during the same period last year.

Although property sales in Nicosia fell 23%, they increased in all the other districts. Sales in Limassol increased 85% to reach 100 compared to the 54 sold in March 2013. Sales in Famagusta went up 85%, while those in Larnaca and Paphos increased by 29% and 4% respectively.

Overall sales during the first quarter of 2014 are down 6% compared with the first quarter of last year.

Source: Cyprus Property News

Cyprus Profile

articles | 23 April 2014