The total number of sales contracts of the real estate has increased by 20% in the year 2014, which made up a total of 4527 properties all together. This information was unveiled on the website of the Inland Revenue Department of the Republic of CyprusIn December. The number of properties sold has increased by 20%, which is up to 454 contracts in comparison to the last month.
Sales of the real estate have grown by 35% this year in Limassol, at the same time as by 6% in Nicosia and by 31% in Larnaca.
Real estate agents believe that such increase in sales in comparison to the last year in the past year is strictly linked with economic recovery after the banking crisis of 2013.For example in the year 2013, the number of properties sold was very low when compared to the average value of 13 000 contracts from the year 2000 to the year 2012.
Real estate agencies expect that banks will offer more funding in 2015, which will in addition increase the number of real estate agreements.