January property transactions up 64%, at post-crisis peak

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property-150x150 January property transactions up 64%, at post-crisis peak

By Stelios Orphanides

The number of property transactions rose in January 64 per cent to 695 compared to the respective month of 2017, the Department of Lands and Surveys said.

The increase was mainly on a 103 per cent annual increase in the number of properties that changed hands in Nicosia to 146 accompanied by 70 per cent rise in Limassol to 70 per cent, the department said in a statement on its website.

The number of properties sold in the Famagusta district rose 129 per cent to 48 last month compared to January 2017, while that in Paphos and Larnaca rose 71 per cent to 164 and 10 per cent to 112 respectively, the department said.

The above figures also include properties acquired by banks as part of loan restructuring agreements.

The number of last month’s property transactions is the highest recorded in a January since 2012.

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