The demand for Cyprus property market falls
Along with falling housing prices, the real estate market of the island there is a decrease in sales volumes. In October 2011 the number of transactions fell by 21% year on year and by 11% compared to 2009, when the real estate market collapsed.
Analysts as reasons for the recession, the housing market, a problem referred to as liquidity, record high unemployment and uncertainty in the market that shows no signs of recovery.
January to October 2011 was recorded in Larnaca - 27%. Behind her are Nicosia - 26%, Paphos - 22% and Famagusta - 15%.
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An exception to the general background was in Limassol, where the decline in sales was only - 0.2%. Experts explain these results in the influx of city Russian buyers.
However, sales of real estate to foreigners Cyprus continue to decline. In October 2011 they dropped to 36% on an annualized basis. Non-residents, who usually make about a quarter of all real estate transactions of Cyprus signed the contract only 123 in 2010, there were - 191.
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2 comments:
Anyone buying here will most certainly be happy with their choice. Just one night of relaxation enjoying the warm Mediterranean breezes will be enough to convince anyone that buying Cyprus property in Paphos is a decision they won't regret. You will love the lifestyle here, and whether you're on vacation or relocating to Paphos, buying property there may be the best investment you ever make!
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No council tax and utilities cost they use to pay. If you are owning a house of holiday place you are for sure with the ease of comfortable environment. These days the apartments in Cyprus with low cost are hard o find as people are raising their shifting.
Cyprus has been at top for property business for past few years. Companies agreed that the ratio of real estate business has get down this year but their estimations say it will get high soon with persistency. Tourism in Cyprus is of great value of course. In Cyprus investment of your money will not make you to regret. Most popular places in paphos for sale with low prices included paphos chloraka cyprus , konia konia 8300 cyprus, paphos kato paphos cyprus, paphos chloraka cyprus, paphos lofos tala cyprus , secret valley paphos cyprus, paphos tala cyprus, paphos anarita cyprus, paphos geroskipou cyprus, paphos tala, lofos cyprus, mesoyi paphos cyprus cyprus , konia paphos konia cyprus.property for sale in paphos
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Cyprus Estate Agents
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