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Leading property website House Sales Cyprus (http://www.housesalescyprus.com/) reports on the recent official figures released by the Department of Lands and Surveys in Cyprus that showed sales of property in Cyprus rose in April 2010. The statistics reveal that property sales in Cyprus were up 11% in April 2010 compared to April of 2009 and up by 25% over the first four months of 2010 when compared to the same period of 2009.

While it is positive to see a rise in property sales in Cyprus for April, this rise was nowhere near the levels seen the previous month. Statistics from the Department of Lands and Surveys for March 2010 showed a massive 37% growth in property sales when compared to March 2009 and a 31% increase in the first three months of 2010.

Figures also indicated a rise in purchases of Cypriot properties by foreigners, something that Cyprus is of course keen to encourage. The country has long relied on overseas investors in Cypriot real estate, particularly from the United Kingdom whose nationals have historically loved the country. The global economic downturn has seen foreigners become wary of many European property destinations, Cyprus included, so this reported rise of foreign purchases will come as welcome news to market analysts.

Similarly, those looking to sell property in Cyprus will be heartened to see any upward trajectory of foreign property purchases in Cyprus. The challenging economic climate makes it even more difficult for Cypriots to afford the property prices many vendors are still asking; it is foreigners who tend to have budgets that can match the asking price. All eyes will be on the next statistics released by the Department of Lands and Surveys in Cyprus for May 2010 to see if the rise in overall property sales will continue, as well as that of foreign purchases.