Property sales in Cyprus fell by 11 per cent in February 2020 compared to February 2019 and by 7 per cent in the first two months of the year according to official figures from the Department of Lands and Surveys.
February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.
Having got off to a promising start to the New Year in January, property sales in Cyprus faltered in February with numbers falling in all five districts compared to the numbers sold in February 2016.
Although the number of building permits authorised in February 2016 rose by 9 per cent compared to the number authorised in February 2015, both their total area and total value fell.
The number property sales during February rose compared to the number sold during February 2014 according to official statistics published earlier today by the Department of Lands and Surveys.
Although February saw a 24 per cent dip in the number of building permits authorised compared with February 2012, the number issued for the construction of new homes increased by one fifth.
There are still no signs of a recovery in the Island's construction sector with the number of new residential properties authorised in February falling by a third compared with February 2011.
February 2011 saw a further drop in property sales in Cyprus compared with the same period last year, with the number of properties sold down by 14 percent.
Latest figures from the Cyprus Statistical Service show that building permits for the construction of 1,691 residential properties were authorised in February 2010.
