Some 151 separate contracts were processed at the Cypriot Department of Land and Surveys by overseas buyers during April, it has been revealed.

The figure is up by 19 per cent on the same period last year and suggests that foreign investors are beginning to return to the once hard-hit Cypriot property market.

Indeed, the trend is not limited to a monthly increase. During the first quarter of 2011, total sales to overseas buyers increased by more than 16 per cent year-on-year.

Larnaca leads the way with sales up 43 per cent, followed by Nicosia at 21 per cent, Paphos with 12 per cent, Famagusta at ten per cent and finally Limassol with a four per cent increase.

Speaking to Overseas Property Professional, Imperio Properties boss Yiannis Misirlis said that the island has seen an increase in the number of nationalities active in the market.

"There has been a noticeable percentage increase in business from Russia and China," he added.

Mr Misirlis noted that the country's guidelines and rules regulating overseas property buyers have helped to make Cyprus an attractive investment destination.