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    04 December 2017

    Property transactions up 39% in November 2017

    Property transactions up 39% in November 2017

    The number of property transactions rose an annual 39% in November to 906, the highest figure this year, the Department of Lands and Surveys said.

    The increase last month was mainly on an annual 98% increase in the number of properties changing owners in Nicosia to 170, the department said in a statement on its website. Property transactions in the Famagusta district rose 174% to 52 while those in Larnaca and Paphos rose 32% to 151 and 16% to 212 respectively.

    The number of property transactions in Limassol rose last month 29% compared to November 2016 to 321, the land department said.

    In January to November, the number of properties changing hands rose 21% to 7,197, the department said. In Nicosia, the number of transactions rose 31%, in Limassol 28%, in Famagusta 32% and in Paphos 26% while in Larnaca it fell 4%.

    The above figures include properties on-boarded by banks as part of restructuring agreements or foreclosures.

    Source: Cyprus Mail

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