New figures from the Land Registry suggest that there may be trouble ahead for the Cypriot property market. While low real estate prices in the country are enabling a greater number of foreign investors to buy a home in Cyprus, transaction volumes are actually falling. The Land Registry claims that 2013 could see an all-time low for property sales, which were down 53 per cent in January from the same time in 2012.
However, it may be premature to go into panic mode, as figures for January 2012 were arguably skewed, thanks to a rush to deposit contracts of sale in a bid to benefit from the reduction in Property Transfer Fees. What’s more, while the country is struggling to recover from the end of the housing boom that halted in 2008, there are signs that the sector is on the brink of a resurgence………………………………………..Full Article: Source