Demand for Real Estate Keeps Trending up in Cyprus Mon, 10 Jul 2017

Demand for Real Estate Keeps Trending up in Cyprus

June 2017 Year over Year Property sales up 28 per cent in Cyprus according to official statistics published by the Department of Lands and Surveys.

The June increase follows a 59% increase in May, a fall of 2% in April and a 16% increase in March. During June, a total of 843 contracts for the sale of residential and commercial properties and land were placed at Land Registry offices across Cyprus, compared with the 657 placed in June 2016. Of those 843 contracts, 635 (75%) were placed by Cypriot purchasers and 208 (25%) were placed by overseas buyers. Sales in Nicosia (the capital) rose 65% compared to June 2016, while sales in Limassol, Famagusta and Paphos rose 37%, 35% and 28% respectively while number of sales contracts in Larnaca fell by 20%.

Overseas property sales rose (sales to non-Cypriots) rose by 7% in June of 2017 as compared to the same month last year. In total, 208 contracts of sale were placed in June of 2017 as compared with 195 in June 2016. Sales in Nicosia and Famagusta fell by 44% and 42% respectively, and they rose 100% in Nicosia, 37% in Paphos and 28% in Limassol.

 


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Company Profile

A&R Cyprus-Greece Fine Properties, Ltd (A&R CGFP) is a diversified real estate services provider, exclusively representing overseas buyers and investors who are looking to buy fine residential or income producing commercial real estate properties in Cyprus and Greece. Our team has over 70-years of combined experience in the global capital markets and a deep understanding of the local real estate and financial markets of Cyprus and Greece.

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