A total of496 contracts for the purchase of commercial, residential properties and land plotsin Cyprus were deposited at Land Registry offices during July; overall, therewas a total increase by 22%.
In comparison to last year, there were 407contracts deposited in July 2014. Of those 407 contracts, 71% (350) weredeposited on behalf of domestic buyers, while 29% (141) were deposited onbehalf of overseas buyers. Such improvement in the property market has followeddue to the reduction of the Property Transfer Fees.
The sales in all districts roseapart from Nicosia. The capital is the only district that made an exception thisyear, where property sales declined by 7.7% if compared to July last year, Inpercentage terms Famagusta performed best with sales rising 96% with 45 salescompared to the 23 sold in the same period last year, while sales in Larnaca,Paphos and Limassol rose by 32%, 30% and 12% respectively.