News Local Property sales double in five years

Property sales double in five years

Property sales in 2018 were more than twice those in the financial crisis year of 2013.

According to Land and Surveys Department figures published by Phileleftheros on Sunday, there were 9242 property sales in 2018 compared to 3676 in 2013.

Close to half the sales were to non-Cypriots who showed a preference primarily for Limassol it added.

Last year saw 508 more property sales that 2017 and 2361 more than in 2016.

November was the busiest month in 2018 with 925 sales followed by July (896), June (858), May (828) and December (800). August sales were restricted to 653.

Limassol recorded the most property sales with 3,411 followed by Paphos with 2242 and Nicosia with 1606.  There were 1345 sales in Larnaca and 638 in the free Famagusta areas.

Foreign buyers brought impetus to the market, accounting for 4421 of last year’s 9242 sales. Of these, 1428 were from other EU countries and 2993 from third countries.

 

Top Stories

Cyprus to launch SMS campaign to avert migrant arrivals

    Cyprus is launching a multilingual SMS campaign to head off more migrant arrivals by dispelling the mistaken belief that it is a gateway to...

Deputy Minister participates in EU teleconferences on research, innovation and space issues

Cyprus' Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos participated on May 29 in two informal teleconferences of the EU Ministers responsible...

Police book three restaurants for breaking distancing rule

  Three restaurants were booked after police carried out 642 checks from 6 pm on Sunday to 6 am on Monday at various businesses to...

GHS Phase Two gets underway with 85% of island’s doctors on board

Phase Two of GHS (Gesy) that incorporates inpatient services to the reform has begun as of today, June 1, with 85% of Cyprus' doctors...

Solar heater subsidy scheme launched

  The RES and Energy Conservation Fund is accepting applications for a scheme subsidising  solar heaters for water at residences for 2020. The scheme has a...

Taste

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...

Spiced lamb with beetroot salad and scented yoghurt

Lay the lamb on a tray, skin side down. Rub with crushed garlic, sprinkle with spices and ground pistachios, wrap in plastic wrap and...

Easy seafood pasta with white wine sauce

Ingredients: 2-3 tbsp olive oil 1 garlic clove, chopped 2-3 tablespoons of whipped cream 1/3 cup white wine 300g spaghetti, roughly broken 300-400g of...

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...