news list
International property /
Foreign property news /
Foreigners express less interest in Cyprian property
Foreigners express less interest in Cyprian property
February 09, 2010In January, the number of property transactions on the island has plummeted by 23.5%, compared to December, while plunging by 28.2% on annualized basis.
reports on this matter, with reference to the data provided by the Land Office.
| Region | Dynamics of the transactions' number,% | |
| January 2009 - January 2010 | December 2009 - January 2010 | |
| Larnaca | -46.2 | -53.3 |
| Limassol | -35.3 | -42.1 |
| Paphos | -45.1 | 27.3 |
That said, the total number of Cyprian property sales has soared in January by 24,5%, year-on-year, although declining in comparison with December. According to the President of the Cyprian Association of Realtors, Solomon Kuruklidis, the annual increase in the number of transactions is explained by the fact that many Cypriots have acquired properties previously owned by foreign nationals or mortgage debtors.
Experts also note that the demand for island's properties expressed by foreign buyers (especially Russians) may be delayed due to global economic recession.
| SURVEY |
CURRENTLY LISTED
for sale or rent
in 60 countries
from 483 companies
and property owners
Jump to
a Specific Country
Special Offers
on Cyprus
 |
495 000 €
Villa near the Corall Bay beach, Pafos |
Special Offers
in other countries
 |
1 200 000 €
Italy. Prestigious apartments in villa ADA! |
