TUESDAY, 28 JUN 2022

 

CONNECT

Facebook Linked In Twitter
IMH LTD

Cyprus President To Attend Dinner For EU And NATO Leaders In Madrid

Russian Economy 'Degrading Slowly' Due To Sanctions, Claims VDL

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

Last Opportunity To Purchase A Stunning Vergi Coastal Residence

The last remaining property in the stunning Vergi Coastal Residences 5 development is now ...

Emerland Real Estate By Gilad Shabtai At The Limassol Investment Summit

Israeli land development company lend expertise to panel discussion on importance of ...

Real Estate Investment Opportunities By AstroBank

AstroBank is offering industrial, commercial, and residential properties in Nicosia, ...

FROM AROUND GOLDNEWS

   

Mandatory Face Masks Return To Pharmacies, Labs And COVID Testing Units

As COVID cases hike in Cyprus, the Cabinet decided on Tuesday to make face masks mandatory again in pharmacies, clinical labs and testing units.
   

Panayides: Cyprus Backs EU Support To Green Tech In Mediterranean

Cyprus agrees with the creation of a common platform for the supply of natural gas, as well as the EU providing financial support for innovative green ...
   

Cyprus Economic Sentiment Deteriorates In June

The economic sentiment in Cyprus deteriorated in July, pushed downwards by weaker business confidence in services, industry and retail trade.
   

Anastasiades: Cyprus Can Become A Regional Educational, Research And Excellence Centre

Cyprus can become a regional educational, research and excellence centre, said President of the Republic Nicos Anastasiades, addressing the graduation ceremony ...
   

Cyprus Sales Of Petroleum Products Up 34 Percent In May, While Oil Reserves Drop 17.1 Percent

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while total petroleum reserves decreased by 17.1% (18,020 tons) at the end ...
   

Petrides Discusses Russian Sanctions With US Secretary Of The Treasury Yellen

The US and Cyprus’ commitment to implement sanctions on Russia for its war in Ukraine was the major issue of discussion between Cyprus Minister of Finance ...
   

Cyprus President To Attend Dinner For EU And NATO Leaders In Madrid

Cyprus President, Nicos Anastasiades, will attend a dinner for the EU and NATO leaders, that will take place on Tuesday in Madrid.
   

Alphamega Hypermarkets: Get Your Hands On Pelikan School Supplies Through The Stick & Win Loyalty Scheme

True to its long-established policy of rewarding its loyal customers, Alphamega Hypermarkets is giving them the opportunity to get their hands on top-quality ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Great_Place_to_work
Enter_Cy_10/20-4/23

IMH LTD