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According to the latest official figures issued by the Department of Lands & Surveys, the number of property sales in Cyprus during March 2016 increased by 19 per cent compared with March 2015. What is more, the 19% increase in March follows a 54% increase in February and a 2% increase in January.
As the number of property sales continues to rise, it gives the impression that a recovery in the property market may be under way after years of decline. In March there were a total of 539 contracts for the sale of commercial, residential properties and land (building plots and fields) deposited at Land Registry offices across the island.
Furthermore, it should be noted that during the first quarter of 2016 sales have risen 24% to reach 1,367 compared with 1,098 sales during the first quarter of 2015.
As regards property sales to the domestic (Cypriot) market, they fell in March by 7% compared to March 2015, with the number of sales reaching 382 compared with 411 in March last year. Although sales in Famagusta and Nicosia rose 31% and 1% respectively, they declined in Paphos, Larnaca and Limassol by 31%, 7% and 1% respectively.
In contrast with domestic sales, property sales to the overseas market (non-Cypriot) during the quarter of 2016 are up by 19% compared with the first quarter of last year and reached 298 compared to last year’s figure of 250. In general, based on the data presented above, we can reach a conclusion that the number of sales rose in all other districts except for Nicosia, where sales declined 17% compared to last year.
Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.
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