Sales of property in Cyprus are increasing for the fourth year in a row

According to the Cyprus Department of Agriculture, according to the results of 2017, property sales in Cyprus have been growing for the fourth year in a row. According to experts’ forecasts, 2018 will also be successful for the Cyprus property market, says Property Wire international portal.

In December 2017 alone, sales of property in Cyprus increased by 36%, which was the highest since July 2008. 25% of these transactions fell to foreigners.

Sales volumes increased in all regions of the country. They increased by 113% in Nicosia, by 94% in Famagusta, by 23% in Limassol, by 18% in Larnaca and by 10% in Paphos.

Over the year to December last year, the number of real estate transactions in Cyprus increased by 24%, which also became the most significant growth indicator since 2008. The annual increase in the number of transactions amounted to 44% in Famagusta, 42% in Nicosia, 27% in Limassol and 23% in Paphos.

The number of transactions with local buyers for the year to December 2017 increased by 53%, and with foreigners – by 33%.

Compared to 2016, the largest number of transactions by foreign buyers in Cyprus increased by 61% in Famagusta, by 38% in Paphos, by 33% in Limassol, by 31% in Nicosia and by 15% in Larnaca.

Source: HomesOverseas.ru