Property deals drop 26% in May
The number of property transactions fell by a quarter to 405 deals in May, compared to 511 year on year, according to data from the Lands and Surveys department.
The drop, the first since November last year, occurred throughout Cyprus, the department said.
However, the total number of property transactions in the first five months of the year rose 4% to 1,884 compared to 1,810 in January-May last year.
In May, property transactions fell 26% in Nicosia, -17% in Limassol, Larnaca, -35% in Paphos and -55% in Famagusta.
Of the 405 contracts in May, 61% were domestic overseas buyers.
During the first five months of 2015, property sales to the domestic market have risen 65, while sales to the overseas market are up just 0.2%.
buyers, while 36% were