Strong Growth in Cyprus Property Sales
Published on: 28/09/2016
Real estate property transactions registered a 50% rise in August 2016 compared to August last year according to the latest official figures published by the Department of Lands and Surveys.
The 50% increase in August follows a 26% increase in July, 42% increase in June and 17% increase in May.
During August 2016 overall contracts of sale reached 451 compared with 301 in August 2015.
The number of contracts also include transactions relating to loan restructurings, recoveries and debt-to-asset swaps agreed between the banks and defaulting borrowers.