The increase last month was mainly on an annual 98% increase in the number of properties changing owners in Nicosia to 170, the department said in a statement on its website. Property transactions in the Famagusta district rose 174% to 52 while those in Larnaca and Paphos rose 32% to 151 and 16% to 212 respectively.

The number of property transactions in Limassol rose last month 29% compared to November 2016 to 321, the land department said.

In January to November, the number of properties changing hands rose 21% to 7,197, the department said. In Nicosia, the number of transactionsrose 31%, in Limassol 28%, in Famagusta 32% and in Paphos 26% while in Larnaca it fell 4%.

The above figures include properties on-boarded by banks as part of restructuring agreements or foreclosures.

Source: Cyprus Mail