WEDNESDAY, 30 NOV 2022

 

CONNECT

Facebook Linked In Twitter
IMH LTD

Kokkinos: Cyprus Ranks 10th In The EU As An Innovative Economy

European Commission Agreement To Mobilise €500 Mln For Social Investments

IMH LTD

REAL ESTATE

brought to you by Deloitte

Property Sales Rise in August

Property Sales Rise in August

Property sales in Cyprus increased by 50 per cent in August compared August last year according to the latest official figures published by the Department of Lands and Surveys.

During August a total of 451 contracts for the sale of commercial and residential properties and land (building plots and fields) were deposited at Land Registry offices across the island; up 50% from the 496 sold during August last year, Cyprus Property News reports.

Of those 451 contracts, 69% (346) were deposited by domestic (Cypriot) purchasers, while 31% (105) were deposited by overseas (non-Cypriot) purchasers. The 50% increase in August follows a 26% increase in July, 42% increase in June and a 17% increase in May.

The number of contracts includes ‘non-sale’ agreements such as loan restructurings, recoveries and debt-to-asset swaps agreed between the banks and defaulting borrowers. As these ‘non-sale’ agreements are not recorded separately, there is no clear picture of the actual demand for property in the domestic market.

Sales rose in all districts with Famagusta leading the way with sales up 193% compared to August 2015. Sales in Nicosia rose 73%, while sales in Paphos, Limassol and Larnaca rose by 55%, 48% and 8% respectively.
 

MORE ON REAL ESTATE

Winstonfield Sweeps Prizes At The European Property Awards

One of Limassol's most prestigious property development companies, Winstonfield Property ...

Grand Investments By Property Gallery In The Evolution Of Platres

Platres, one of the most picturesque historical villages in Cyprus, has recently started ...

PARTICIPATION OF DANOS GROUP - An Alliance Member Of BNP PARIBAS REAL ESTATE In 23RD PRODEXPO ATHENS 2022

The Group DANOS - an alliance member of BNP PARIBAS REAL ESTATE was for another year, ...

FROM AROUND GOLDNEWS

   

Grand Opening Of Simplex LCA1, Cyprus’ Largest Data Center

Data centers are the foundations of the digital economy and as evidently demonstrated during the COVID-19 pandemic, critical infrastructure for the global ...
   

Defence Minister Discusses Bilateral Relations, E. Med And Turkish Provocations During Official Serbia Visit

Cyprus’ Defence Minister, Charalambos Petrides was on an official visit to Serbia on Tuesday during which he discussed with his Serbian counterpart, ...
   

AWS Helps Ukraine Safeguard Its Future

On Tuesday, November 29, at the AWS re:Invest 2022 in Las Vegas, the Ukraine Deputy Prime Minister and Minister for Digital Transformation Mykahilo Federov and ...
   

AWS re:Invent 2022 Opens Its Doors

On Monday, November 29, the AWS re:Invent 2022 opened its doors to the global cloud community to celebrate its successes over the year, showcase the power of ...
   

Cyprus Is Dealing With The Economic Crisis With Specific Investment Policies And Programmes, Finance Minister Says

Cyprus is dealing with the economic crisis with specific investment policies and programmes, bringing growth to 6%, and increasing the fiscal reserve to ...
   

Alphamega Hypermarkets Holds Big Christmas Tree Lightning Celebration

Alphamega Hypermarkets has officially started counting down to the most wonderful time of the year. Five Alphamega stores held simultaneous Christmas tree ...
   

3rd Annual Corporate Blood Donation Limassol Success

On the 2nd and 3rd of November 2022 with the initiative of the company Royal Pine, the 3rd Annual Corporate Blood Donation Limassol took place.
   

Kokkinos: Cyprus Ranks 10th In The EU As An Innovative Economy

Cyprus, as an innovative economy, based on European indicators, currently ranks 10th, compared with 22nd until five years ago, when it did not have the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

simplex 16/11-13/12
cyta roadshow_29/11-5/12

IMH LTD