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Recent News |
AN INCREASE IN PROPERTY SALES IN JANUARY 2010
According to figures published by the Cyprus Department of Lands and Surveys, property sales increased by 24% in January 2010 compared to January 2009.
In January 2010, 570 sale contracts were deposited at Land Registries throughout Cyprus compared to 458 in January 2009. These figures include retail, warehouse, office properties and land as well as apartments and houses.
A number of property developers have reduced their prices in attempt to attract buyers and British expatriates have been selling their homes at reasonable prices and returning to the UK. President of the Cyprus Real Estate Agents’ Association, Solomon Kourouklides, states that “The latest increase is attributable to the opportunities in the market. Many Cypriot individuals and investors have bought properties from non-Cypriots or Cypriots who cannot pay off their loans. But these opportunities will run out”.
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