According to the department, most of the transactions were recorded in the Limassol district where the number of arrangements almost doubled in the first month of 2017. Limassol, the second largest urban area in Cyprus, showed 43% increase to 132.
In Nicosia 72 real estate units changed hands, which is 33 per cent more than in January 2016. The third-largest city in Cyprus, Larnaca also reveals sales improving (31 per cent to 102), while Paphos shows an increase of 19 % to 96, according to the department. Meanwhile in the Famagusta area sales rates fell by 5% to 21. On the whole, in January 2017 and in January 2016, the number of property dealings grew 43% and 2% respectively.
It should me mentioned that December 2016 showed the highest number of property transactions since September 2008. According to the department, real estate sales in Cyprus jumped by 121% in December 2016 in comparison with the same month of 2015. The statistics of growth rates for the other months of the previous years are as follows: November 2016 - 46%, October 2016 - 37%, September - 50%. For now, the property sales figures of December 2016 reveal the most significant annual growth over the last 10 years, says Cyprus Property News.