Latest figures from the Cypriot Department of Lands and Survey s shows a jump in property sales during May, indicating that the market maybe on the road to recovery.

At 803 sales across the island, transactions are up 25% year-on-year but are still 60% below peak levels.

Sales to overseas buyers are up 7% in the first five months of the year across the country with Nicosia (up 92%) and Famagusta (up 10%) doing particularly well.

However, in the other coastal towns, which are largely dependent on external demand, sales are not doing so well.

Sales in Limassol are down 6%, in Larnaca they are down by 4% and in Paphos they are down by 3% compared to last year.