Property Sales in Cyprus Show Slight Increase

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With discounted prices from developers and resale property owners Cyprus has seen a temporary boost in property sales.
 

A proposal is also under consideration that would allow real estate agents across the EU to register with the Estate Agents Registration Council in order to advertise and sell properties in Cyprus. A copy of the draft law has been sent to the European Commission.
 

According to the latest figures published by the Lands and Surveys Department, property sales in Cyprus are starting to pick up but are still very slow.
 

Prices have been falling with some developers offering discounts of up to 30% as an incentive to buyers and this is what has been attracting people, according to Solomon Kourouklides, president of the Cyprus Real Estates Agent’s Association.
 

'The latest increase is attributable to the opportunities in the market. Many Cypriot individuals and investors have bought properties from non-Cypriots or Cypriots who cannot pay off their loans. But these opportunities will run out. If the economic parameters remain the same, we believe that the market will remain at the same level as in 2009, while there is a possibility of a slight deterioration,’ he explained.
  
 
Check out Guide2Cyprus for Property in Cyprus