Sales up again during March 2018

Cyprus is showing continued growth in property sales during 2018

During March a total of 768 contracts or the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with the 626 deposited in March 2017. The figures show a continuing improvement in the economic conditions, coupled with government measures (such as the citizenship by investment scheme) – and although banks remained burdened with very high levels of non-performing loans (NPLs) they are now in a better position to grant loans to those buying property. Of the 768 contracts deposited, 431 (49%) were for properties purchased by Cypriots, while the remaining 337 (51%) were for properties purchased by non-Cypriots.

 

PANCYPRIAN TOTAL NUMBER OF REGISTERED CONTRACT OF SALES FOR THE YEARS 2017-2018
MONTH JANUARY FEBRUARY MARCH TOTAL
TOTAL NUMBER OF REGISTERED  CONTRACT OF SALES 2017 423 456 626 1505
         
TOTAL NUMBER OF REGISTERED CONTRACT OF SALES 2018 695 666 768 2129
         
         
MONTH JANUARY FEBRUARY MARCH TOTAL
PERCENTAGE OF DECREASE / INCREASE : 64% 46% 23% 41%

 

THE NUMBER of property sales contracts deposited at Land Registry offices across the Republic of Cyprus during March 2018 rose 23 per cent compared to March 2017 according to official figures published by the Department of Lands and Surveys.