February property sales 5% up boosted by weaker euro

By Stelios Orphanides

The number of property transactions rose 5 per cent in February to 325 compared to the respective month of 2014, mainly on a strong increase in transactions in Larnaca and Famagusta districts which offset a further weakening of the property market in Nicosia, the department of lands and surveys said.

A real estate expert said the increase may be related to the weak euro vis-à-vis the British pound which makes purchases in Cyprus, mainly in coastal areas, more attractive.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.