Insider Business One in three property sales to non-EU buyers

One in three property sales to non-EU buyers

There has been a steady increase in property sales and in the number of properties sold to foreign buyers, Philenews reported on Thursday.

It said that the latest figures from the Land and Surveys Department show that a total number of 5,366 sales contracts were submitted in the first seven months of the year, up 23% over the same period the previous year. Sales to foreign buyers stood at 2613 or 48.7%.

One in three sales involved non EU-residents. Paphos attracted the most attention, followed by Limassol, Larnaca and Famagusta. There was limited interest in Nicosia from foreign buyers.

Of the 2,613 sales contracts involving non-Cypriot buyers in the first seven months, 1798 were from non-EU buyers.

Paphos led the field with foreign buyers, accounting for 39% of the sales or 1,020 sales contracts of which 608 were to non-EU. Limassol was second with 785 sales contracts with foreign buyers of which 638 were non-EU.

In terms of total property sales, Limassol topped the table with 1975 sales contracts followed by Paphos with 1270.

Larnaca was third in sales to non-Cypriots with 399 sales contracts of which 322 were to non-EU. In the Famagusta district, sales to foreigners stood at 269 of which 155 were non-EU.

In Nicosia, 140 sales contracts were submitted to the Land Surveys Department by non-Cypriots of which 74 were non-EU.

 

Top Stories

Afternoon lessons in Limassol postponed

The Limassol Municipality announced that the scheduled for 19 October beginning of the Limassol Municipality Open School lessons will be postponed until further notice....

Nippon Foundations makes big donation to Cyprus

One of the most known cultural foundations of Japan, the Nippon Foundation, made a big donation of books to Cyprus. The books were donated...

Increase of COVID-19 cases in educational institutions of Polis Chrysochous

Epidemiologists are focusing their attention on Polis Chrysochous since the COVID-19 seems to be spreading in the school community there. According to the authorities...

Roads in Larnaca, Nicosia to close due to Egyptian President’s visit

The Police announced that on Wednesday 21 October, the Egyptian President Abdel Fattan Al-Sisi is expected to visit Cyprus. During his visit increased security...

Giannakis Gavriel new AKEL MP for Famagusta

Giannakis Gavriel was on Tuesday 20 October declared as the new MP of AKEL for the Famagusta District. In a statement the new AKEL MP...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...