Cyprus property sales volumes soared 35%
In April 2016 the volume of home sales in Cyprus increased by 35% (514 deals) compared to the same period of 2015, according to news portal Cyprus Business Mail, citing data from the Department of Land Resources.
The greatest number of transactions were made in Limassol (+ 44% to 166 transactions) and Larnaca (+ 90% to 127 transactions). They are followed by Famagusta (+ 106% and 35 transactions) and Paphos (+ 14% to 107 transactions). In Nicosia, on the other hand, the sales volume decreased by 10% (79 deals).
Markedly increased domestic demand. With regard to foreign buyers of property in Cyprus, in April the number has doubled from 45 in 2015 to 98 in 2016.
In the period from January to April sales rose 27% (1881 transactions) compared to the same period last year. The number of transactions committed by foreigners in the first four months of this year increased by 70% (273) in comparison with indicators of 2015.