Insider Business Real estate sales up by 29% in April

Real estate sales up by 29% in April

Real estate sales recorded an increase of 29% in April, according to Land Registry data compared to April 2017. Famagusta District was a leader in real estate demand, recording an impressive 79% increase in the register of sales contracts, followed by Nicosia with a 46% increase.

In the first four months of this year, the increase in real estate sales as they were recorded by the Land Registry has reached 38% compared with the same period of last year. Famagusta District alone has recorded during that period an increase of 76% in real estate sales, Nicosia sales were up by 60%, Limassol by 42%, Pafos by 36% and Larnaka by 7%.

In particular sales contracts filed with the Land Registry in April 2018 came to 655 for the entire island compared to 506 in April 2017. During the period of January – April of 2018, the increase of sales contracts filed at the Land Registry was close to 38% or 2,784 compared to 2,011 at the same period of the previous year.

April saw an increase of 46% in Nicosia or 117 sales contracts. Sales were also up in Limassol by 28% with sales contracts filed at the Registry reaching 246. An increase was also recorded by 20% in Larnaka (83 sales contracts) while in Famagusta District the increase was 79% (52 sales contracts) and in Pafos 15% (157 sales contracts).

Read more

https://in-cyprus.com/news/business/market-turmoil-after-19-vat-imposed-on-land-sales/

 

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