Overseas buyers return to Cyprus

15 Jan 2017, Lucy Racheva   Read the original article

Foreign buyers continue returning to property market in Cyprus.

The country enters TheMoveChannel.coms Top 10 most popular destinations for property sales in November, with transactions up 46% year-on-year.

Official figures from the Department of Lands and Surveys show that a total of 651 contracts for commercial and residential property sales, plus land sales, were deposited in November, with 71% by domestic buyers and 29% by international buyers.

Demand is still rising among international buyers as well, with overseas sales jumping 31% in November.

With the exception of Famagusta, where sales fell 42%, they rose in all other districts, led by Limassol (82%), Paphos (74%), Nicosia (43%) and Larnaca (3%).

During the first 11 months of 2016, international property sales climbed 20%, painting a positive picture for the islands market going into 2017.

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