The number of properties which changed owners in August in Cyprus’ main port town rose an annual 56% to 201, the department said in a statement on its website on Monday.

The number of transactions in the district of Nicosia rose an annual 19% to 76, followed by an 18% increase to 160 in the Paphos district, 15% to 47 in the Famagusta district and 9% in the Larnaca district, the land department said.

In January to August, total properties island-wide rose 20% compared to the respective period of 2016 to 4,921, the department said. Transactions rose 34% to 1,805 in Limassol, 26% to 1,243 in Paphos, 23% in Nicosia to 784 and 19% to 299 in Famagusta. In Larnaca, total transactions dropped 8% to 790.

The above figures include properties acquired by banks as part of loan restructuring agreements.

Source: Cyprus Mail