Property transactions rise 54% in February, department of lands says

By Stelios Orphanides – Cyprus-Mail

The number of real properties which changed hands in February rose an annual 54 per cent to 501, the third highest since July 2012, boosted by transactions in the Limassol district, which almost doubled, the department of lands and surveys said.

In the second month of 2016, property transactions in Limassol rose 85 per cent to 179 compared to the respective month of 2015, the department said. In Nicosia, the number of transactions rose 76 per cent to 79 while in Larnaca, Paphos and Famagusta the figures rose 52 per cent to 108, 18 per cent to 100 and 30 per cent to 35 respectively.

In the first two months of 2016, the number of reported property transactions rose 28 per cent to 828 island-wide, the land department said. The number of properties that changed hands rose the most in Nicosia to a total of 133, 46 per cent higher compared to the respective period of 2015. Limassol and Famagusta followed with a 41 per cent annual increase to 271 and 33 per cent to 57 respectively.

Larnaca and Paphos reported the smallest annual increase in January to February with 16 per cent and 14 per cent to 186 and 181 respectively, the department said.

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