Cyprus Property market recovery strengthens

Cyprus Property sales increased in June 2016 compared to the same period last year, according to official statistics published by the Department of Lands and Surveys, with sales up 42%. June saw a total of 657 contracts for the sale of commercial and residential properties and land (building plots and fields) being deposited at Land Registry offices across the island. Of those 657 contracts, 70% (462) were deposited by domestic (Cypriot) purchasers, while 30% (195) were deposited by overseas (non-Cypriot) purchasers. Sales rose in all districts. Sales in Famagusta rose 64% compared with June 2015, while sales in Nicosia rose 61%. Meanwhile sales in Paphos, Larnaca and Famagusta rose 48%, 8% and 3% respectively.

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