Cyprus: the volume of home sales hit new record

The volume of real estate market in Cyprus in April 2013, reached another record low, however, it has been an increase in interest from foreign investors in such areas as the country Paphos, Larnaca and Famagusta, reported online source Cyprus Property News , citing data from the Land Department of the country. Total in Cyprus in April of this year were registered 285 contracts of sale of real estate - it is 38% less than in April 2012, when 461 the contract was concluded. In addition, the lowest monthly figure. Of the total number of transactions 59% (168) accounted for locals and 41% (117) - to foreigners. Market volume declined in all areas of Cyprus, in addition to Paphos, where the number of sales increased compared to 7% last year. Despite the fact that the number of real estate purchases made by foreigners in April 2013, fell by 2% compared to the same period in 2012, increased the number of sales in Paphos, Larnaca and Famagusta. According to the source, it can be connected with the ability to get a residence permit in the country in exchange for the purchase of real estate, as well as with reduced housing prices. Some developers and real estate agencies are now making significant discounts to stimulate sales in the market. In the first four months in Cyprus by foreigners was signed by 22% of real estate transactions is less than in the same period last year. homesOverseas.ru