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Property sales register 4 year high

June saw the most ‘Contracts of Sale’ being deposited at the offices of the Land Registry Department since 2012 and showing an increase of 42% from June 2015.

A total of 657 ‘Contracts of Sale’ were deposited in June 2016 compared to 464 in June 2015, while the first six months of 2016 with 3,012 sales is up 28% from the same period in 2015.

Nicosia showed a 61% increase in sales for June this year, noting 98 sales compared to 61in June 2015. The first six months of 2016 showed a total increase of 16% as compared to the first six months of 2015.

Limassol with 222 sales marked a 64% increase compared to the 135 sales in June 2015 while a 36% increase was marked for the first six months of this year.

The Famagusta had a 3% increase; 34 sales compared to 33 sales last year and showing a 40% increase in sales for the first six months of 2016.

Paphos showed a 48% increase; 183 sales compared to 124 last June while the total increase for the first six months compared to the same period in 2015 was 23%

Larnaca sales in June reached 120 units noting an 8% increase over the 111 units sold in June 2015 and showed a 30% increase in sales for the first six months of 2016.

A total of 1,398 cases of transfer of ownership involving 1,900 units with a value of €631.61 million were conducted in June 2016. June 2015 saw 821 cases of transfer of ownership involving 876 units totalling €155,02 million.

The first six months of 2016 saw a total of 6,003 transfers involving 7,354 units valued at €1,96 billion, overtaking the €1,54 billion recorded for the entire 2015.

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