According to the published data of the Department of Land Resources of Cyprus, in May 2010, the cadastre offices of Cyprus submitted 803 real estate sale contracts for registration, which is the highest figure since July last year. In the first five months of 2010, the number of sales contracts filed for registration with the cadastral offices of Cyprus reached 3,544 units, and in the same period last year there were only 2,838 units, which is 25% higher. The growth in demand for housing occurs mainly in the domestic market of the country, where property in Nicosia and Limassol are the most popular. However, these figures are still far from pre-crisis. Total sales this year are more than 60% lower than the volumes for the same period of 2008. Judging by some encouraging signs, the number of foreign property buyers is growing, since the number of contracts submitted to cadastral offices in the first five months of 2010 increased by 7% compared with the same period last year. However, in 2009, these figures were extremely low, and sales of Cyprus real estate to non- Cypriot people are still almost 80% lower this year than in the same period in 2008. According to materials from the site www.news.cyprus-property-buyers.com
Cyprus real estate market gives signs of recovery
10.06.2010
Homesoverseas.ru editorial office
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