In April of 2016, the number of real estate transactions in Cyprus grew by 35% and reached 514 transactions, compared to the same month 2015. This growth is mainly due to sales in Limassol and Larnaca and its external demand.

In Limassol and Larnaca areas, the number of transactions increased by 44%, respectively, reaching 166 transactions and 90% to 127 transactions.

A Famagusta and Paphos, there has been a corresponding growth in real estate transactions by 106% and 14%.

The number of foreign buyers, the same in April 2016, has doubled compared to April 2015. Also during the period from January to April 2016, the number of properties sold increased by 27% to 1,881 units, compared to the same period of 2015, including properties purchased by banks as part of agreements restructuring loans. The number of properties bought by foreigners in the first four months of 2016 increased by 70% to 273 over the same period of 2015.

Only in the Nicosia area, the real estate sales showed an annual decline of 10% to 79%.

(ITALPRESS/MNA).

Source: medNews