The real-estate market has been rising steadily since the start of 2019, with the number of sales contracts exceeding 2,300 in just 3 months, and Limassol remaining ahead of this upward trajectory, according to official figures published by the Department of Lands and Surveys this week.
As per the information released by the Department of Land and Surveys, the sales contracts submitted in Cyprus during the period January – March 2019 have reached 2,366, compared to 2,129 in the same period last year, recording an increase of 11 per cent. Of these contracts, one in three, or 33.5 per cent, took place in Limassol. The seaside city has remained steadily ahead in the property market figures, with a total of 784 sales in this three month period, as many investors choose to invest in luxury towers and new developments all along the seafront as well as other prime locations within the city.
The figures published by the Department of Lands and Surveys, which also include an increase in property sales in other cities, including an increase of 32 per cent in Nicosia, 17 per cent in Paphos, 9 per cent in Larnaca and 4 per cent in Famagusta, demonstrate a continuing improvement in the economic conditions of the island. This is further bolstered by the successful Cyprus Investment Program introduced by the government of the Republic of Cyprus.
If you are seeking to buy a property in Cyprus, contact the D. Zavos Group Sales Department who will be happy to assist you with selecting a suitable property from our vast real estate portfolio, and provide assistance throughout the entire purchasing procedure.