The real estate market in Cyprus keeps an asceding route, with Limassol in the leading vanguard, marking the largest percentage increase in sale contracts. The largest increase in property sales was recorded in October 2016 in Limassol, reaching 63%.
According to the same data from the Land Registry Limassol recorded the highest increase in sales of almost 44% during the first 10 months of this year, compared with the corresponding period of 10 months last year.
Limassol is well above the average increase in the entire Cyprus both at October sales (Cyprus average: 37%, Limassol: 63%) and the 10-month period (Cyprus average: 32%, Limassol: 44%).
Of particular importance are the data that indicate even greater increase nationwide, by 45%, in October sales to foreign buyers. Limassol counted 68 sales in total of 161 nationwide (from 111 last year at the same period).
Sales contracts concerning foreigners in October in the remaining provinces were divided as follows: Paphos: 43, Larnaca: 30, Nicosia: 10, Famagusta: 10.
In other provinces, the increase in real estate sales in October was as follows: Famagusta: 62%, Larnaca: 28%, Nicosia: 25%, Paphos: 8%.
In total for October 2016 the sales in the provincial offices of the Lands Registry throughout Cyprus was 634, while in October 2015 they only reached 463.
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