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Annual property sales hit eleven year high

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%...
Fastigheter Tuesday, 07 January, 2020
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Instability expected in Cyprus real estate sector

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...
Fastigheter Sunday, 24 November, 2019
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Marginal rise in October property sales

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...
Fastigheter Wednesday, 06 November, 2019
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Weakening property sales

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

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 ...
Fastigheter Monday, 07 October, 2019
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Cyprus property sales surge in May

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

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...
Fastigheter Sunday, 10 March, 2019
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ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus

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

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 ...
Fastigheter Monday, 11 February, 2019
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December property sales disappointment

December property sales disappointment

Following nineteen consecutive months of rising property sales in Cyprus, December 2018 sales saw a crash in their number according to official figures published by the Department of Lands and Surveys.During December a total of 800 contracts were deposited at Land Registry offices for the sale of commercial and residential properties and land compared with 1,537 in December 201...
Fastigheter Sunday, 13 January, 2019
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