Within 2014, the sale of properties in Cyprus has increased for the first time since 2010. Moreover, a rise in the number of sales has also been observed within January 2015 and sales are expected to continue to increase.
In 2014, the number of contracts of sale deposited at the Land Registry was 4527 in comparison to just 3767 in 2013. This represents a very significant annual increase of around 20%. It is worth noting that 1,193 of the sales within 2014 involved foreign buyers. Within January 2015, the biggest increase was reported in Limassol and Larnaca. In Limassol, 95 contracts of sale have been deposited in comparison with just 80 the same month in 2014. This represents an increase of 19%. In Larnaca, the number of contracts of sale deposited in January 2015 was 90 in comparison with just 52 in January 2014. This is a rather large increase of around 73%. Unfortunately, in Paphos, Famagusta and Nicosia there has been a decrease of the number of sales within January 2015. Nicosia recorded a decrease of 8%, Famagusta 11% and Paphos 20%. However, the picture is overall positive and hopefully sales will continue to increase during the rest of the year.