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REAL ESTATE

brought to you by Deloitte

Real Estate Sales Up By 55% in First Two Months Of 2018

Real Estate Sales Up By 55% in First Two Months Of 2018

Real estate sales were up by 55% throughout the island in the first two months of this year, data released on Monday 5 March by the Land Registry show.


In February alone sales contracts were up by 46% after having recorded an increase of 64% in January.

In particular, the number of sales contracts submitted to district land registry offices throughout Cyprus in January and February this year were 1,361 compared to 879 at the first two months of 2017 recording an increase of 55%.

In Nicosia, the first two months of 2018 the number of sales contracts increased by 67% to 242 compared to 145 in the first two months of the previous year.

In February alone sales contracts came to 96, recording an increase of 32%, the Cyprus News Agency reports.

In Limassol, the number of sales contracts submitted to the land registry office was up by 56% to 481 compared to 309 in the same period of 2017. In February alone sales contracts came to 256, recording an increase of 45%.

In Larnaca, during the first two months of this year sales contracts were up by a modest 4% to 211 compared to 202 in the first two months of last year. In February, sales contracts were marginally down by 1% to 99.

At the same time, Pafos saw an impressive rise of 79% in sales contracts to 327 compared to 183 last year. In February alone sales contracts came to 163, recording an increase of 87%.

In Famagusta District, the increase recorded was of the order of 150% to 100 sales contracts compared to 40 in January and February 2017. In February sales contracts reached 52, recording an increase of 174%.

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