Booming property sales seen continuing in '18 - Danos

Cyprus :  Booming property sales seen continuing in '18 - Danos

Booming property sales in Cyprus are expected to continue throughout 2018, according to Danos.

In a Cyprus Property Market report for the first semester, Danos said that foreign investors have been an important factor in influencing the real estate market, along with the improved economic climate, government tax measures and the relaxation of criteria by banks for lending.

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"In 2018, the upward course of development that began in 2017 will continue throughout Cyprus, particularly in the coastal areas," it said.

Figures cited by the report show that the number of sales documents deposited at Cyprus' land register in February reached 666 from 456 a year earlier, rising 46%. In January 2018, the rise stood at 64%.