Cyprus property sales recovering

10/12/2015
Both Cyprus domestic and overseas property markets are recovering with sales to the domestic market up 11 per cent and the overseas market up 48 per cent during November compared to the same period last year

The total number of Cyprus property sales during November rose 21% compared with the same period last year according to official figures issued this morning by the Department of Lands & Surveys.During November a total of 446 contracts for the sale of commercial and residential properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with the 370 deposited in November 2014.

Of those 446 contracts, 69% (308) were deposited by domestic (Cypriot) purchasers, while 31% (138) were deposited by overseas (non-Cypriot) purchasers

Property sales during the first eleven months of 2015 are up 9% compared with the same period last year with the number of properties sold reaching 4,439 compared to 4,074 in 2014.

The number of properties purchased by Cypriots in November rose 11% compared to November 2014, with sales reaching 308 compared with 227 during the same period last year

Property sales to the overseas (non-Cypriot) market rose 48% in November compared to the same period last year with 138 properties sold compared with the 93 sold in November 2014

During the first eleven months of 2015, property sales to non-Cypriots have risen 11% compared to the same period last year, with the number of sales rising to 1,214 from last year’s figure of 1,096