Cyprus Mail

Property transactions down 9% in February

The number of property transactions dropped 9 per cent in February to 456 compared to the respective month of 2016, the Department of Lands and Surveys said.

The drop was mainly on an annual 13 per cent drop in the number of property transactions in Paphos to 87 accompanied by a 46 per cent slump in the Famagusta district to 19, the department said in a statement on its website.

In Nicosia and Larnaca, the number of properties that changed hands fell an annual 8 per cent to 73 and 7 per cent to 100, the department said. In Limassol, the number of property transactions fell 1 per cent to 177.

In January to February, the number of property transactions rose 6 per cent to 879 compared to the respective period of 2016, the department said.

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Source: Cyprus News Agency