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Property sales rose by 20% year-on-year in 2014

Property sales have considerably increased in 2014 recording the first year-on-year increase in transactions since 2010. ACCORDING to official statistics published by the Department of Lands and Surveys, property sales in 2014 recorded their first year-on-year increase since 2010, growing by 20 percent to reach 4,527 compared with 3,767 in 2013 driven by a rise in all districts.

Property sales Transactions ended in 2014 as follows:


An increase of 35% in Limassol

An increase of 37% in Famagusta

An increase of 6% in Nicosia

An increase of 31% in Larnaca

An increase of 6% in Paphos

The leap in sales can be attributed to several reasons


Cyprus has recovered beyond international expectations as a result of the steady progress made in restructuring its economy, with a projected return to growth in 2015.

So far, Cyprus has passed all evaluations. After three years of exclusion from international lending, the country's return in 2014 to international markets has been a significant confidence booster.

Of the 4,527 property transactions in 2014, 74% were bought by Cypriots with the remaining 26% being purchased by overseas buyers.


Considering that the supply of new property developments is decreasing and the demand of purchases is increasing it is believed by many analysts that Cyprus Property prices will also increase in the near future. At the end of the day economic theory and the supply and demand clearly stipulates that it is a matter of time that the prices will increase provided other factors stay stable as now.

Cyprus has an open, free-market, service-based economy with a long record of successful economic performance. The country's strong business environment, highly educated workforce and favourable tax regime are set to continue attracting investment in its property market.



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