Property transactions down 9% in February

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By Stelios Orphanides

The number of property transactions dropped 9 per cent in February to 456 compared to the respective month of 2016, the Department of Lands and Surveys said.

The drop was mainly on an annual 13 per cent drop in the number of property transactions in Paphos to 87 accompanied by a 46 per cent slump in the Famagusta district to 19, the department said in a statement on its website.

In Nicosia and Larnaca, the number of properties that changed hands fell an annual 8 per cent to 73 and 7 per cent to 100, the department said. In Limassol, the number of property transactions fell 1 per cent to 177.

In January to February, the number of property transactions rose 6 per cent to 879 compared to the respective period of 2016, the department said.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • dave

    Are they issuing title deeds yet?

  • thebluehornett

    No stability until a United Cyprus and Title Deeds.

  • Philippos

    Such a lovely sunny month too. some of the “Sub Drops” are huge, but even the “Overall” 9% in an age of buying passports is really scary. Even more scary for those “Passport Investors” is that if you want to sell your property after the three year minimum holding period is up ( and some are “Maturing” Already) where is the market that you are going to “Sell” into AND Gents, since you have all been buying the same kind of stuff, in the same kind of price bracket, you will get stuffed even more than usual. Cyprus -1, Foreigners -0 (That’s the half time score by the way). So come on boys, start saving up because there will be lots of “Luxury” Properties for sale at knockdown prices for us to scoop up and profit from, in a year or two. Avoid the apartments though because the service charges could be huge as the “Passports” stop paying them. (Another fine mess you’ve got me into Ollie)

    • charlie

      Bravo Philippos! A fine and concise analysis, file mou. 🙂