Strong Growth in Cyprus Property Sales Mon, 12 Jun 2017
There was a strong rise in the number of Cyprus property sales during May, with the number of contracts deposited at Land Registries across the island up 59 per cent compared to May 2016.
While some of this substantial growth may be attributed by a rush to buy before VAT is imposed on commercial sales of land, it is paramount to highlight that this growth in demand is also attributable to surge from foreign buyers who are looking to acquire their residency and citizenship in Cyprus.
Sales increased in all districts as compared to May of 2016. In percentage terms, sales in Limassol were up by 106%, while in Famagusta, Paphos, Nicosia, and Larnaca rose by 58%, 53%,44%, and 16% correspondingly.
Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index.
Sun, 3 Sep 2017