Property transactions in Cyprus have dropped

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In August, the number of property transactions fell to 301, 10% lower than August 2014 on a sales drop in Limassol, Famagusta and Nicosia, as the department of lands stated.
A 16% annual increase of property transactions in Paphos to 88 and 16% increase in Larnaca to 75 were unable to keep a balance to the August losses in the other Cities as the Department of Land stated on their website. In Limassol, the property transactions dropped 31% to 87 while in Famagusta they fell by 44% to 14 and in Nicosia 30% to 37.

However, the overall number of properties that has changed hands throughout the whole island, from the beginning of the year until the end of August, was 3,145. Gladly this is 6% higher compared to the respective figure of 2014, as released by the department.