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Cypriot Investment Scheme
Repossession Property Yield Properties

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  • 30 April 2019 KPMG Sales of many properties over 1 million

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  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

  • 30 April 2019 KPMG Sales of many properties over 1 million

    The exogenous demand for luxury properties, particularly in Limassol, is... read more

  • 22 April 2019 Cyprus real estate investment Prospects and Risks

    The figures, trends and the state of the Cyprus real estate market over the... read more

  • 19 April 2019 Solution for trapped buyers edging closer

    Amendments to the law designed to resolve the Title Deed mess by enabling... read more

43 percent increase sales of real estate

   

The highest increase of the decade -with digit rythmo- recorded the number of deeds in the provincial registers for 2016. The property sales surpassed 7000 and reached the 2011 level by recording an annual increase of 43% as from 4952 of sale documents in 2015, their number reached 7,063 in 2016. 

Note that in 2013 the number of deeds was at its lowest point -in 3.767-, while during the property bubble in 2007 property sales had reached up to 21 thousand. in 2008, the number of deeds amounted to 14.667 declining by 44% since 2007, which was a record year. During the period 2009-2011 the number ranged 7-8 mm. And from 2012 begins the fall in numbers. However from 2013 recorded steady increases, the largest to be reflected in 2016 compared to 2015. 

However, doubt is that if we get back to the numbers of documents in registers katatithento decade ago. Undoubtedly naturalization incentives gave the kiss of life in the real estate industry. 

At the same time, the reduction in transfer fees and urban motives supportive worked to revitalize the industry. The future, however, a concern. There are fears that there will be an oversupply of real estate from regular banks to accumulate property on their balance sheets that will sell through divestments of operations. 
The picture in the provinces 

Most provinces except Larnaca recorded triple-digit growth in the numbers of deeds for the month of December. Typically, Nicosia increased of sale documents at 167%. In general, total sales increased by 121% in December, from 513 in December 2015 the number of deeds of sale reached 1,134 in December 2016. 

In 2016, the largest increase in the number of deeds deposited holds Limassol with the growth rate stood at 59%. They submitted a total 2,496 deeds of which 432 in December. Note that Limassol holds precedence and the total number. Paphos submitted 1,740 deeds, up 40% from 2015. In particular, for the month of December there was an increase by 137% in the submission of deeds from December last year. The number of deeds submitted in December in Paphos rose to 318 from 134 last year December. For 2016, the capital deposited 1,031 deeds, registering a 38% increase from 2015 that were deposited 749 deeds. Only for December 2016 deposited 144 deeds of sale from 54 the same month last year. At the same time, an increase of 35% recorded the number of deeds of sale in Famagusta, with their number could rise to 436, of which 87 were submitted this year in December. Finally, noting that the Larnaca district recorded the smallest increase (27%) and for 2016 submitted 1360 deeds of sale from 1,072 a year earlier. 

Regarding the deeds to foreigners, for 11 months of 2016 they submitted 1,459 deeds compared with 1,214 in the corresponding period of 2015, up 20%. 

source: http://www.philenews.com/el-gr/oikonomia-kypros/146/346725/trechoun-me-ayxisi-43-oi-poliseis-akiniton