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Property sales continue decline

By Nigel Howarth
Housing crisis exacerbated by permits approval

ACCORDING to figures released by the Cyprus Land Registry, property sales during May fell by 53.2%. This takes the reduction in sales since the beginning of the year to 60.7% compared to a year ago.

Sales in Famagusta and Paphos are down 71% and 66% respectively while in Larnaca they have fallen by 63%. The figures for Limassol and Nicosia were marginally better; sales fell by 54% and 55% respectively.

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