The share of foreigners among buyers real estate in Cyprus, still remains at the level of 20%," notes the publication , referring to the data of the statistical report of the Department of Land Use and Statistics of Cyprus.
In particular, if out of 21,245 real estate transactions concluded in 2007, more than half (53.1%) accounted for buyers from abroad, then this year, as in the previous year, the number of foreigners among the total number of home buyers in Cyprus does not exceed 22%.
Among the main reasons for the fall in demand for real estate on the island from foreigners, Cyprus Property News, in addition to the global crisis, calls the fall of the pound sterling against the euro, media reports on the difficulties of the Cypriot housing market, as well as continuing high mortgage rates.
