Low cypriot property sales could encourage price falls

A decline in the level of property sales in Cyprus could see potential buyers given more opportunity to pick up a bargain home.

The latest official statistics reveal that there has been a decline in transactions of over 15 per cent in the fist three months of the year, compared to 2010 figures.

As a result, some vendors may be forced to lower their asking prices if they are going to have a realistic chance of attracting buyers back, A Place in the Sun reports.

Indeed, a fall in costs could also act as the spark needed to tempt a number of investors back to look at property in Cyprus.

Source: PropertyShowrooms.com