Department of Lands and Surveys of Cyprus: Property rose in August

The Department of Lands and Surveys of Cyprus said in in a statement on its website on Monday that properties rose 27 per cent in August compared to previous year same period. On a strong performance of the Limassol property market, property transactions number is up to 572.

According to the department in Cyprus’s main port town, the number of properties which changed owners in August is up to 201, that means 56 per cent annual rose.

As the Land Department said the number of property transactions in all the cities of Cyprus analytically is:

  •  in the district of Nicosia rose an annual 19 per cent to 76,
  •  in the Paphos district 18 per cent increase to 160,
  •  in the Famagusta district 15 per cent to 47,
  •  in the Larnaca district 9 per cent.

Total properties island-wide compared to the same period of 2016, January to August, rose 20 per cent up to 4,921.

Property transactions rose:

  • 34 per cent to 1,805 in Limassol,
  • 26 per cent to 1,243 in Paphos,
  • 23 per cent to 784 in Nicosia,
  • 19 per cent to 299 in Famagusta.

In Larnaca, total transactions dropped 8 per cent to 790.

The above figure for the property transactions are relevant to banks statistics as part of loan restructuring agreements.

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Published on: 08/09/17