August property sales up in August 2014
PROPERTY sales in Cyprus increased for the sixth consecutive month in August with sales increasing in most districts compared to August 2013.
During August a total of 335 contracts for the purchase of ‘immovable property’ (i.e. commercial and residential properties and land) were deposited at Land Registry offices across Cyprus; a 25.9% increase on the 266 contracts deposited during the same period last year.
However, the number of sales in Nicosia and Paphos declined compared to August last year, falling by 13.1% and 10.6% respectively.
Meanwhile, sales in Limassol more than doubled at 122.8%, while those in Larnaca and Famagusta rose by 35.0% and 8.7% respectively compared to August last year.
Cyprus property sales August 2014 Property sales (year to date) During the first eight months of 2014 the number of properties sold reached 2,995; a 23.2% increase on the 2,399 sold during the first eight months of 2013. With the exception of Paphos, where sales have fallen 2.3% compared to last year, sales have increased in all the other districts with sales in Limassol up 51.6%, sales in Famagusta up 40.1%, and sales in Larnaca and Nicosia up by 24.6% and 21.7% respectively.