Cyprus Real Estate News

06/02/2012 Cyprus Real Estate News January 2012

According to Januarys2012 information provided by the Land Registry Department the Cyprus Real Estate Sales are on the highest level for the past 18 months. This of course is a result mainly because of the reduction of the transfer fees and the 5% Vat when purchasing a Cyprus real estate first property.

According to information published regarding Januarys Cyprus Real Estate and Cyprus Real Estate Transactions the Buy-Sell Agreements that were registered in the Cyprus Land Registry Department of Land and Surveys came up to the 803 compared to 522 for last January 2011. This gives an increase of 54%.

This is the first increase in the Cyprus Real Estate Transactions for the past 17 months and the number of sales is the biggest number of sales since June 2010. (Ioannis Michalaki Chartered Surveyors Cyprus).