September 2016 was marked by an increase in property dealsall across the country. The biggest leap has been observed in Limassol, wherethe sales surged by 71%, followed by Larnaca (at 42%), Paphos (at 40%) andNicosia (25%). Famagusta region has the lowest surplus estimated at 7%.
A total number of contracts include not only buying/sellingdeals, but also agreements between banks and proprietors aimed at mortgagerestructuring, title of deeds restoration etc. Thus, it is difficult toestimate the growth of the demand accurately. However, the general positivetrend is ultimately observed.
Cyprus real estate market is clearly recovering. In the lastfew months the number of registered transactions in the country has multiplied.In August, an annual increase of 50% was set, respective figures for July andJune are 25% and 42%. In the first month of autumn up sales grew by 44%,according to Cyprus Property News, citing data from the Department of Land andSurveys.
In September of this year, 556 transactions involvingresidential and commercial real estate have been registered on the island. Inthe same period last year the figure stood at 385 transactions.