OVERSEAS CYPRUS PROPERTY SALES ROCKET
The surge in Cyprus property sales in May that we reported last Thursday was helped significantly by a more than three-fold increase in sales to the overseas market according to official figures.
MAY saw the number of Cyprus property sales to the overseas market more than treble compared to May 2016 according to official figures published earlier today by the Department of Lands and Surveys.
Of the 756 contracts for the sale of immovable property that were deposited at Land Registry offices across Cyprus in May, 496 (65.6%) were deposited by Cypriot purchasers and 260 (34.4%) were deposited by overseas purchasers. Overseas Cyprus property sales rocket Property sales to the overseas (non-Cypriot) market during May 2017 rocketed by a massive 348% compared to May 2016. Sales rose in all districts. In Famagusta, where not a single property was sold in May 2016, 11 properties were sold in May 2017. Sales in Paphos rose 533%, while sales in Limassol rose 405%. Meanwhile overseas sales in Larnaca and Nicosia rose 330% and 7% respectively.
OVERSEAS PROPERTY SALES CONTRACTS - 2016/2017 COMPARISON
Source : CyprusPropertyNews (12.6.2017)