Cyprus Property Rises 2016

Cyprus Property Rises 2016 sales in Cyprus seem to be showing signs of recovery, after March saw a significant increase, up 19% in sales compared to March 2015.

According to the island’s Land Registry data, which looked at the total number of property sale contracts submitted to the Registry, the sale contracts reached 539 in March this year, compared to 452 in March 2015.

Meanwhile, the first quarter of 2016 recorded 1367 of sale contracts compared to 1098 in the corresponding quarter of 2015, recording an increase of 24%.

Significant growth in Cyprus Property Rises 2016 was also recorded in sales from foreign buyers with an almost four-fold increase in sales by foreign buyers at 157 sales this March compared to just 41 in March last year.

In Nicosia, March sale contracts recorded a small decrease of 1% reaching 82, compared to 83 in March 2015.

In Limassol, sales increased in March by an impressive 23% to 197 compared to 160 in March last year.

Larnaca also recorded a 23% rise – with 121 sales compared to 98 in March 2015.

Meanwhile, Famagusta recorded an impressive 94% spike in sales recorded in March compared to last year, although the number of sales compared to other towns was significantly less – at 33 sales in March compared to 17 in 2015 of the same month.

There was also some respite for Cyprus Property Rises 2016 in Paphos with a 13% rise, with 106 sales recorded compared to 94 in 2015.

 

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