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Property sales up 32% October 2016, Limassol first in sales at 44%

Posted on: 11/14/2016 8:04:29 AM under General News

Property sales increased by 37% in October 2016, compared to the same month last year, a continuation of the trend of increasing sales mostly since February of the current year.

Sales during the period January-October 2016 recorded an increase of 32% (3,993 last year, 5,278 this year).

This is according to data publicized by the Land Registry, which show that sales documents submitted to the District Land Registry offices reached 634 in October 2016 compared to 463 in October 2015, an increase of 37%. During the previous two months, August and September, the increase in sales had reached 50% and 44% respectively.

By district, the largest increase in sales in October 2016 (63%) was recorded in Limassol. Famagusta follows at 62%, Larnaca 28%, Nicosia 25% and Paphos at 8%.

Limassol also recorded the largest increase (44%) for the period January-October 2016 compared to the same period last year, followed by Famagusta at 33%.

Sales to foreign buyers recorded an increase of 45% in October (111 last year, 161 this years), with most sales having been conducted in Limassol, reaching 68. Paphos follows with 43, Larnaca 30, then Nicosia and Famagusta with 10 each