Property transactions up 27% in August, land department says

The number of property transactions rose 27 per cent in August to 572 compared to the respective period last year mainly on a strong performance of the Limassol property market, the Department of Lands and Surveys said.

The number of properties which changed owners in August in Cyprus’s main port town rose an annual 56 per cent to 201, the department said in a statement on its website on Monday.

The number of transactions in the district of Nicosia rose an annual 19 per cent to 76, followed by an 18 per cent increase to 160 in the Paphos district, 15 per cent to 47 in the Famagusta district and 9 per cent in the Larnaca district, the land department said.

In January to August, total properties island-wide rose 20 per cent compared to the respective period of 2016 to 4,921, the department said. Transactions rose 34 per cent to 1,805 in Limassol, 26 per cent to 1,243 in Paphos, 23 per cent in Nicosia to 784 and 19 per cent to 299 in Famagusta. In Larnaca, total transactions dropped 8 per cent to 790.

The above figures include properties acquired by banks as part of loan restructuring agreements.

Source – www.cyprusbusinessmail.com

Mag_i_volshebnik

Mag_i_volshebnik

Sign up for our Newsletter

SUBSCRIBE TO OUR NEWSLETTER to stay up to date on the latest industry news, tax calendar events, and our team achievements