Property sales to foreign investors fall by 76% in Cyprus

[Nicholas Wallwork]

The number of properties sold in Cyprus has declined dramatically so far*in 2009 especially to foreign buyers, the latest statistics show.

Sales of real estate to foreigners have gone down an astonishing 76%,*the figures from the Land Registry show. Sales to Cypriots are also down*by 28% in the first ten months of this year. Overall all sales are down by*52% compared with last year.

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