43% UPSCALE FOR THE REAL ESTATE INDUSTRY IN 2016
Title deeds have risen up to 7.063 As the economy of Cyprus has risen to outstanding performances during the last few years, investors from abroad have shown great interest in providing their capitals to meaningful projects that make Cyprus an investment heaven. The fast processes, the investing interest along with the endless possibilities that the island provides, have given a serious boost to the real estate industry, making it possible for more the 7.000 title deeds to be issued for 2016. The 7.000 barrier in real estate sales has been overtaken in 2016 following the progressive gradual upward trend of the last few years. According to the Department of Lands and Survey, the number of title deeds has risen during January until December 2016 from 4.952 of the equivalent period in 2015, to 7.063, documenting an increase of 43%. At the same time, the title deeds of December 2016, noted a bounce up to 121% thus reaching the amount of 1.134 in relation with the 513 of December 2015. This upward trend is still rising, filling the market with optimism that the numbers of 2017 and the years to follow will be higher.