According to the Department of Lands and Surveys, a total of 858 contracts of sales for commercial and residential developments, have been deposited at the Land Registry this year. During the first half of 2018 the number of contracts for property sale deposited at the Land Registry offices has risen to 24%.
While sales have dropped for Nicosia and Pafos and increased for Famagusta and Limassol, in terms of percentages Larnaca led the way with a 39% Increase. This increase shows the momentum that Larnaca currently holds in terms of investment interest and the potential that the city has for growth.
With many projects in commercial and residential developments well underway, Larnaca is acquiring a new upscale face thus becoming a significant business and tourism destination with unique features and infrastructure.
Source: Cyprus Property News