Property transactions up 18% in July

August 3, 2017

The number of properties that changed owners in July rose 18 per cent to 739 compared to the respective month of 2016, the Department of Lands and Surveys said.

The increase in property transactions last month reflects an increase in all districts with the exception of Larnaca where they fell an annual 16 per, cent to 103, the department said in a statement on its website. It was Larnaca’s second consecutive drop and the fifth this year.

Property transactions increased an annual 22 per cent last month in both Nicosia and Limassol to 124 and 269 respectively, 20 per cent in Paphos to 184 and 119 per cent in the Famagusta district to 59, the department said.

In January to July, total transactions, which include also properties acquired by banks as part of loan restructuring agreements, rose 20 per cent to4,349 compared to the respective period last year, the land department said.

Nicosia was up 23 per cent, Limassol 31 per cent, Famagusta 20 per cent and Paphos 27 per cent, while Larnaca was down 10 per cent, the department said.

Source : Cyprus Business Mail