According to the Central Bank of Cyprus, apartmentprices in Cyprus on average fell by 2.1% and house prices by 1.8%.
The largest decline in prices for apartmentswas noticed in Famagusta, as it reached 4.5%. In Larnaca, the property pricesfell by 3%. With regards to Paphos and Limassol prices for the apartments fellby 2.8% and 2.1%, while in Nicosia only by 1.4%.
The most significant decline in house prices wasrecorded in Nicosia and Larnaca, which is 2.1% and 1.9%. Prices for the housesin Limassol were decreased by 1.9%, in Famagusta by 1.3%, while in Paphos -0.1%.
Anothersignificant change that has occurred in the property market of Cyprus is thesales growth. The amount of contracts that was deposited at the Land Registryoffice in July has reached a total of 407 for the sale of commercial property,residential property and plots of land, which is 15% more if compared to 354 contractsdeposited in June 2013.