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Sales Contracts Statistics 2011
A new dip in property sales was recorded in September, according to the latest statistics of the Land Registry. Based on recorded sale contracts, a fall has been recorded in all towns with the exception of Limassol, which is at the same levels of last year. According to the latest released figures, property sales declined for the 14th consequetive month. For September 2011, recorded sales contracts were at 608 compared to 687 for September 2010, showing a decrease of 11%. In the unoccupied Famagusta area there was an increase of 43% and in Limassol an increase of 7%. With regards to the first nine months of 2011, recorded sales are at 5317 compared to 6446 of last year, showing an increase of 18%.
Larnaca seems to have the biggest decrease over the first nine months of 2011, with recorded sales at 767 compared to 1058 of last year, showing a decrease of 28%. Nicosia showed a decrease of 24%, with recorded sales at 1455 compared to 1906, for the same period last year. Paphos showed a decrease of 23%, falling to 925 recorded sales, compared to 1194 sales for the same period last year.
However, Limassol showed a decrease of only 1% with recorded sales of 1615 compared to 1628 last year for the same period. This trend is explained by the interest of the Russian Market for Limassol.

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