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The Post-Crisis Rise of Real-Estate? Property Sales Record Increase

Published on: 13 October 2015

Data released from the Department of Lands and Surveys show a 3% increase in property sales for September

Real estate sales appear to be picking up once again in Cyprus following the property sector’s highly publicised decline as a result of the financial crisis.

Indeed, according to data released by the island’s Department of Lands and Surveys, the number of properties sold during September rose by some 3% year-on-year. This outcome followed a decline of 10% in terms of sales during August.

Moreover, the data revealed that a total of 385 contracts for the sale of commercial and residential properties and land were deposited at Land Registry offices across Cyprus, compared with the 373 contracts deposited in September 2014. 

Of the 385 contracts, 68% or 261 were deposited by Cypriot purchasers, while 32% or 124 were deposited by non-Cypriots.

Nicosia garnered the most property sales, claiming 63% of those completed during September, while Larnaca followed closely with 42%. Although sales were also up in Famagusta, by 20%, they recorded decreases of 27% and 7% in Paphos and Limassol respectively.

Sales during the first nine months of 2015 are up 6% compared with the same period last year, with the number of properties sold reaching 3,530 compared to 3,328.

Source: GoldNews

 

 

About Urban Keys Real Estate & Chartered Surveyors

Headquartered in Nicosia, Cyprus and with a reach in all districts, Urban Keys Real Estate & Chartered Surveyors is a new venture with longstanding roots as real estate agents, property valuers and surveyors, offering consulting services to a wide range of clients and on all types of property matter – selling, buying, renting, leasing property throughout Cyprus.

Urban Keys is a young, fresh, dynamic and innovative agency. Our approach ensures the property sector in Cyprus is consistent to international standards, as well as made to suit a new generation, changing real estate market, and changing economy.

Urban Keys Real Estate & Chartered Surveyors
70, 28th October Avenue
Office 102, Engomi
2414, Nicosia, Cyprus.
Telephone:+357 22 27 00 19
Mobile:+357 99 43 44 51
E-mail:info 'at' urban-keys.com
Website:www.urban-keys.com

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