property sales

Real estate sales came by 18% in 2011, according to data issued by the Department of Lands and Surveys.

The data points that in 2011 a total of 7,018 sale documents were submitted to the regional departments, compared to 8,598 in 2010, with the district of Larnaca recording the highest-drop and the district of Limassol the lowest.

In 2011, a total of 12,279 properties were sold or ownership transferred, according to the date, with the district of Nicosia showing the most sales or transfers and the district of Famagusta the smallest amount.

Moreover, in 2011 the real estate transferred or sold to foreigners reached 501, while 1,652 sale documents with foreign buyers were submitted.