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Overseas property sales in decline
Sales to the overseas market have been falling month-on-month since June 2019 (with the exception of a small rise in December 2019.) Sales to the overseas market in August accounted for 35% of the total sold during the month.
The total number of property sales to the overseas market during August stood at 199; a fall of 18% compared to the 244 sales achieved in t...
Real Estate
Saturday, 05 September, 2020
les mer
Annual property sales hit eleven year high
Property sales in Cyprus during 2019 topped 10,000 to reach the highest number recorded since 2008 according to official statistics published this morning by the Department of Lands and Surveys.
Property sales – December 2019
During December a total of 910 contracts deposited compared to 800 in December 2018. Although the numbers in Paphos and Limassol fell by 4% and 2%...
Real Estate
Tuesday, 07 January, 2020
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Instability expected in Cyprus real estate sector
Although it’s too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report. While the first half of 2019 recorded a 25% increase over the corresponding period of 2018, Q3 2019 saw a 35% decrease in the total value of transactions, dashing hopes for furth...
Real Estate
Sunday, 24 November, 2019
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Marginal rise in October property sales
October saw a marginal rise in Cyprus property sales compared to the corresponding month last year according to the latest official figures released by the Department of Lands and Surveys. During the first ten months of 2019, the number of sales has risen by 14% to reach 8,549 compared to 7,517 in the corresponding period last year. Although sales have declined by 1% in Famagus...
Real Estate
Wednesday, 06 November, 2019
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Weakening property sales
Cyprus property sales have fallen significantly following the introduction of stricter criteria for acquiring passports in May highlighting the real market’s dependence on the ‘citizenship by investment’ scheme. Earlier this year property sales surged as foreign investors rushed to buy property in Cyprus before the government introduced stricter criteria. But ...
General
Thursday, 10 October, 2019
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Rise in property sales led by local and EU buyers
The rise in property sales during September was led by local and overseas buyers from the EU who between them purchased 47 (10%) more properties than September 2018 say official figures.There was a marginal rise of 1% in property sales during September compared with September 2018. While the combined total of sales to local and overseas buyers from the EU rose by 10%, sales to ...
Real Estate
Monday, 07 October, 2019
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Cyprus property sales surge in May
During May 2019 a total of 1,423 contracts were deposited for the sale of commercial and residential properties and land compared with 828 in May 2018 – and the largest monthly figure recorded since July 2008 when 1,542 contracts were deposited. Of those 1,423 contracts, 800 (59%) were deposited by Cypriots and the remaining 623 (41%) by non-Cypriots – 147 of whom w...
General
Thursday, 20 June, 2019
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Sharp rise in property sales in February
February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.
Apart from a 48% fall in sales in December 2018 due to the rush to buy land in December 2017 before the government introduced VAT on land sales, the number of property sales has i...
Real Estate
Sunday, 10 March, 2019
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ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus
Cyprus has hailed a significant discovery of natural gas offshore, highlighting the Mediterranean island’s prospective role as an alternative source of energy to Europe.
Amid rising tensions over hydro carbons in the eastern Mediterranean, the US energy giant ExxonMobil announced that deep-water drilling south of the coastal city of Limassol had yielded “encouragin...
General
Thursday, 28 February, 2019
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Property sales continue to rise in January
The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys. With the exception of December 2018, when sales fell by 48 per cent due to the rush to buy land in December 2017 before the government introduced VAT on land sales, the number ...
Real Estate
Monday, 11 February, 2019
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