Real estate sales rose by 43% in 2016!

Real estate sales rose by 43% in 2016, figures released by the Department of Lands and Surveys (DLS) show. Cyprus-wide sale contracts submitted to the DLS reached 7,013 in 2016 compared with 4,952 in 2015. The data exclude sales to foreigners to be released at a later stage. December sale contracts spiked 121% reaching 1,134 in 2016 from 513 in December 2015. Sale contracts submitted in Limassol increased by 59% reaching 2,496 in 2016 compared with 1,556 in 2015. In Paphos, sale contracts in 2016 amounted to 1,740 from 1,241 in 2015 rising by 40% year on year. Sale contacts submitted to the Nicosia DLS district office amounted to 1,031 from 749 in 2015 marking an increase of 38%. In Famagusta, sale contracts rose by 35% amounting to 435 in 2016 from 324 in 2015. Sale contracts in Larnaca reached 1,360 in 2016 from 1,072 in 2015 recording an increase of 27%.