Cyprus Mail
Business

Property transactions up 29% in April

The number of property transactions rose last month an annual 29 per cent to 655 mainly on a strong performance of the real estate market in Nicosia, the Department of Lands and Surveys said.

The number of properties that changed owners in Nicosia rose last month 46 per cent to 117 compared to April 2017, the department said in a statement on its website on Wednesday. The number of transactions in Limassol rose 28 per cent to 246 while those in Larnaca rose 20 per cent to 83. In Paphos, they rose 15 per cent to 157.

The highest increase was reported in Famagusta district where the number of transactions rose an annual 79 per cent last month to 52, the department said.

In January to April, the total number of transactions reported rose 38 per cent to 2,784, the department said. The figures also include an unspecified number of properties acquired by banks as part of loan restructurings.



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