Property sales up 54% y-o-y in February

Property sales were up 54% year-onyear in February, according to the Land Registry.

The data which relate to sales contracts submitted to the Registry rose to 501 in February compared to 325 in February 2014.

January saw an increase compared to a year earlier.

In the first two months of the year the contracts submitted increased by 28% to 828 compared to 646 in the first two months of 2015.

In Nicosia district, property sales contracts were up by 76%, for a total of 79 compared to 45 in February 2015. In Limassol the increase was 85%, to 179 compared to 97 last February and in Larnaca property sales were up 52% to 108 in February this year compared to 71 in February 2015, reversing a drop of 13% in January.

In Famagusta district property sales were up by 30% and in Paphos by 18%.