CYPRUS: Property transactions down by 9% this year

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The Department of Lands & Surveys in Cyprus has released figures that further exemplify the general slump in the real estate market that island has been experiencing this quarter. Property transactions dropped by 9% in February compared to the same period last year. The drop was mainly attributed the number of property transactions in Paphos (usually a popular area for real estate) and accompanied by a 46% descent in the Famagusta district.