More good news for the real estate market in Cyprus.
Following recent reports that the prices of immovable properties have gone up, data from the Land Registry indicate a significant increase in sales for August 2017 and for the first 8 months of 2017 overall.
The biggest increase has been reported in Limassol where 201 Contracts of Sale have been deposited at the Land Registry within August. This marks an increase of 56% in comparison to August of 2016. Overall 1805 Contracts of Sale have been deposited at the Land Registry within 2017 in regards to Limassol.
Within August 572 real estate transactions were recorded for the whole of Cyprus and that amounts to an increase of 27%. For the first 8 months of 2017, 4921 Contracts of Sale have been deposited in the whole of Cyprus in comparison to just 4088 in the same period last year. That is a notable increase of 20%. The increase in real estate transactions has taken place in all districts except Larnaca where a decrease of 8% has been reported in comparison to last year.