The Real Estate market in Cyprus is recovering from the crisis. In June the property sales went up by 42% in comparison with the same period in 2015.
During the last month, there were 657 deals concerning commercial and residential properties, as well as land sales. 70% of the deals were concluded by the Cyprus citizens and 30% by the foreigners.
According to the experts, one of the most important factors which resulted in such an improvement, were the amendments to the legislation concerning Immovable Property taxation and implementation of various discounts for the Purchasers and owners of the property in Cyprus.
