PROPERTY sales in Cyprus increased for the fourth consecutive month in June with sales increasing in all districts compared to June 2013.
During May a total of 403 contracts for the purchase of commercial and residential properties and plots of land were deposited at Land Registry offices across Cyprus; a 50.9% increase on the 267 contracts deposited during the same period last year.
In percentage terms, Larnaca performed best with sales increasing by 103% to reach 81 compared to the 40 sold in June 2013. Sales in Limassol increased 88%, while sales in sales in Limassol, Paphos and Famagusta increased 88%, 21% and 13% respectively.
Overall sales during the first half of this year have improved 34% compared to the first half of last. And although improvements have been seen in most districts, sales in Paphos have fallen 7%, but if the upward momentum continues they should soon recover.
We will publish a breakdown of the sales figures as soon as the Department of Lands and Surveys publishes the relevant data.