Property prices in Cyprus continue to rise
Residential property prices in Cyprus rose by 0.4% in the last quarter of 2017 compared to the July-September period, with apartment and house prices rising by 0.9% and 0.2% respectively, according to the Central Bank of Cyprus' Residential Property Price Index.
While apartment prices in Famagusta and Larnaca fell by 1.9% and 0.2% respectively over the three months, they rose by 2.0% in Nicosia and 2.2% in Paphos.
Meanwhile, house prices in the fourth quarter rose in Famagusta, Larnaca and Limassol by 1.0%, 0.7% and 0.3% respectively, but fell by 0.6% in Paphos and by 0.1% in Nicosia.
The Cyprus Property Price Index reports that apartment and house prices increased by 1.5% in the fourth quarter of last year compared to the same period in 2016.
While apartment prices fell by 0.4% in Famagusta, they rose by 6.3% in Limassol, 3.0% in Nicosia, 0.6% in Paphos and 0.4% in Larnaca.
Apart from Nicosia, where house prices fell by 0.2% per year, they rose in four other regions: 2.2% in Famagusta, 1.6% in Limassol, 1.1% in Paphos and 0.3% in Larnaca.
The property sector in Cyprus is showing clear signs of recovery from the historically low levels of activity reached during the crisis, according to the Central Bank.
Author: Deniz Estate
Related articles
Book a consultation with a real estate expert abroad
our profession reminds me of the job of a "personal assistant", a kind of coordinator or guide in a new country, who helps a person avoid hundreds of headaches. In our case, related to buying real estate.
That is why people buy apartments with us, rent them out, get loans from banks or apply for a residence permit, even furnish apartments and send their children to school.
And most importantly, our clients recommend us to their friends, and trust is worth a lot. Come and visit us!