December 2016 saw the largest amount of property sale and purchase deals in Cyprus since September 2008.<\/p>\n
According to the Land Registry Department, December 2016 was marked by a 121% increase compared to its previous year counterpart. For reference, similar comparisons in November demonstrated a 46% rise, while October and September demonstrated 37% and 50% surges respectively. As for the entire year, it saw a PPP rising by 43%, thus becoming the largest yearly surplus of the past decade, according to Cyprus Property News.<\/p>\n
The possible reason for such economic growth within the sector is strongly tied to a new law, which alleviates the taxes from property capital dividends.<\/p>\n
In 2007, an overall number of 21 245 sale and purchase deals were fixed, while 2013 was characterized by their lowest number, just at 3 767. 2014 was a turning point, rising the figures by 20%, the trend continued in 2015 (9% rise and 4527 transactions) and in the past year, that witnessed 7 073 property fixtures.<\/p>\n