During July a total of 625 contracts for the sale ofcommercial and residential properties and land were deposited at Land Registryoffices across the island.
Past year has been marked with an astonishing increase (26%)in sales on the property market of Cyprus. June 2016 saw 625 deals beingclosed, a 25% boost compared to the same month in 2015. Byer’s purchasing powerand activity have been on the rise in almost every corner of the country.According to the Land and Property Department of the republic the top tierregions list ranked according to their sale increase yield is as follows:Nicosia (+70%); Limassol (+41%); Larnaca (+29%); Paphos (+9%). Famagustadistrict, on the other hand, witnessed a trough with a 40% decrease.
First 7 months of 2016 were highlighted with an overallupsurge of 28% when placed against the similar period of 2015. Here Limassoltops the list (+37%); followed by Larnaca (+29%); Nicosia (+23%); Paphos (+20%)and Famagusta (+19%). Russian citizens are estimated to comprise almost a halfof all property purchasers.