December 2016 saw the largest amount of property sale andpurchase deals in Cyprus since September 2008.
According to the Land Registry Department, December 2016 wasmarked by a 121% increase compared to its previous year counterpart. Forreference, similar comparisons in November demonstrated a 46% rise, whileOctober and September demonstrated 37% and 50% surges respectively. As for theentire year, it saw a PPP rising by 43%, thus becoming the largest yearlysurplus of the past decade, according to Cyprus Property News.
The possible reason for such economic growth within thesector is strongly tied to a new law, which alleviates the taxes from propertycapital dividends.
In 2007, an overall number of 21 245 sale and purchase dealswere fixed, while 2013 was characterized by their lowest number, just at 3 767.2014 was a turning point, rising the figures by 20%, the trend continued in2015 (9% rise and 4527 transactions) and in the past year, that witnessed 7 073property fixtures.