CYPRUS: Property sales up 43%

Real estate sales rose by 43% in 2016 from the year-earlier figures, according to data from the Department of Lands and Surveys (DLS).

 
Sale contracts submitted to the DLS reached 7,013 in 2016 compared with 4,952 in 2015. The data exclude sales to foreigners to be released at a later stage.
December sale contracts spiked 121% to reach 1,134 in 2016 from 513 in December 2015.
Limassol topped the charts where sale contracts increased by 59% reaching 2,496 in 2016 compared with 1,556 in 2015. In Paphos, sale contracts in 2016 amounted to 1,740 from 1,241 in 2015 rising by 40% year on year.
Sale contacts submitted to the Nicosia DLS district office amounted to 1,031 from 749 in 2015 marking an increase of 38%. In Famagusta, sale contracts rose by 35% amounting to 435 in 2016 from 324 in 2015. Sale contracts in Larnaca reached 1,360 in 2016 from 1,072 in 2015 recording an increase of 27%.