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Volume housing market in Cyprus has fallen by almost 50%

08.04.2013
Homesoverseas.ru editorial office
23
As a result of the adoption by Cyprus of the Eurogroup imposed conditions on financial assistance, the banking crisis deepened on the island, and in March 2013 the market volume fell to a record low, according to the online source of Cyprus Property News , citing data from the Land Department of the country. In total, in March 2013, Cyprus has been registered only 286 transactions in real estate, which is 49% less than in March 2012, when 563 deals were registered. In the first quarter of 2013, Cyprus has been bought by 45% of real estate is less in comparison with the same period in 2012. Despite the projected demand from Chinese investors, the number of transactions of purchase and sale of property in Cyprus, committed by foreigners in March 2013 ., fell by 44 to 72% compared to the same period in 2012, there has been a slight increase in sales in Famagusta, the number of transactions declined in other areas. The most significant drop was in the Nicosia (84%), the market volume in Larnaca fell by 68%, in Limassol - 42% and in Paphos - 23%. In general, the first quarter of 2013, foreigners bought 45% of real estate is less than in the first three months of 2012 HomesOverseas.ru
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Discussion
NikolayIgorevitch
It's funny to read about Chinese investors. There won't be any more of them, and there were a couple dozen buyers. Past "investors" from China have opened their eyes to a European residence permit. Buying a property in Cyprus, at best, you will receive a residence permit in Cyprus! You will not be allowed to enter Schengen Europe without a visa. The Chinese understood this.
In addition, the Chinese saw the price of the secondary and were very, very pleasantly surprised! Developers sold them houses for twice the price of the market. They approached the buyer in a very Cypriot way.
8 of Apr 2013, 20:54:51
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