The demand for Cyprus property returns

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Cyprus property is growing in popularity again after a 5 year slump. The number of transactions carried out by foreigners on Cyprus real estate sites increased by 12% over the first 7 months 2016, compared to the previous year which amounted to a total of just under 900 sales transactions during the same period. The greatest demand for properties was found in Limassol and Paphos.

According to Estate Agencies, small and inexpensive offices, apartments and houses are now most in demand. This is primarily due to the fact that Russian and Ukrainian companies have moved part of their offices to Cyprus to avoid the consequences regarding stricter Controlled Foreign Companies legislation.