The results of a survey conducted by the Tranio.Ru Internet Centre of Overseas Property portal provides an insight into Russian overseas property buyers, where and what they are looking to purchase.
Overseas investment in the Cyprus real estate market continues to dwindle with the number of sales falling a quarter during the first three months of 2012 compared to the same period last year.
Although the number of properties sold to Cypriot buyers improved for a second consecutive month in January, there is still no sign of a recovery in the Island's overseas property market where the number of sales continues to decline.
The dramatic collapse of the Cyprus overseas property market, which has left thousands of partly built holiday apartments and villas littering the Island's seaside towns and villages, continued in 2011 with sales falling to a 10 year low.
HM Revenue & Customs has set up a team of investigators to track down UK-based individuals who are letting out property in Cyprus and other countries without declaring its rental income.
Just six properties were purchased in Nicosia by overseas property buyers in November, while the total number of overseas sales during the month was down by 43 percent on the number sold in November 2010.
After some months after being out of the top ten countries for overseas property investors, Cyprus is back in at the number seven spot in the October 'Top of the Props' chart published by TheMoveChannel.com.
The Cyprus overseas property market is showing signs of recovery in spite of its problems, with sales to non-Cypriot buyers up fifteen percent in 2010 compared with 2009.
The Cyprus overseas property market remained steady last month with sales during the first eleven months of this year maintaining their 8 percent increase on the numbers sold during the first eleven months of 2009.
The slow recovery of Cyprus’ overseas property market continued last month with sales during the first ten months of the year up by 8 percent on the numbers sold during the first ten months of 2009.
The weak recovery in Cyprus’ overseas property market continued during September with sales during the first nine months of the year up by nearly 3 percent on the numbers sold during the first nine months of 2009.
It is hard to believe that the Cyprus overseas property market has collapsed so suddenly and so dramatically. In a few short years, sales of property to overseas investors have plummeted significantly compared to the numbers formerly sold.
The recovery in the Cyprus overseas property market is still very weak and estate agents are looking for new markets as a result of the drop in demand.
The recovery in Cyprus’ beleaguered overseas property market may be faltering according to the latest figures released by the Department of Lands and Surveys.
Figures issued earlier today by the Cyprus Department of Lands and Surveys reveal that the Island’s overseas property market collapsed in 2009 with a mere 1,761 properties being sold to non-Cypriot buyers during the year.
