MONDAY, 18 JUN 2018



Facebook Linked In Twitter
Invest Cyprus 30/04-30/03/2019

Georgiades: European Fiscal Framework Rules Need to be Simplified

Snapbox Holdings: Cyprus Has a Potential of Becoming a Key Investment Destination



brought to you by Deloitte

CBC: Residential Property Prices Record Annual Increase in Q1 2017

CBC: Residential Property Prices Record Annual Increase in Q1 2017

Residential property prices recorded their first annual increase in seven years, according to data released on Friday, August 25, by the Central Bank of Cyprus (CBC). In particular, residential property prices recorded a slight increase of 0.2% in the first quarter of 2017.

Apartment prices recorded an annual increase for the second consecutive quarter (1.6%), while house prices recorded the lowest annual decline since end 2010 (0.3%).

Residential property prices Index (houses and apartments) posted a third consecutive quarterly increase (0.3%) in the first quarter of 2017.

As noted by the Central Bank, the continued quarterly increases, albeit small, confirm the recovery of the real estate sector in Cyprus, as other relevant indicators also show.

Both house price and apartment price indices recorded a 0.3% increase on a quarterly basis.

As CBC noted, the recovery of Cyprus economy at a steady pace, the reduction of unemployment and the strengthening of trust are factors supporting the positive course of property prices in Cyprus.


Price changes per district

On a quarterly basis, the residential property prices index increased for the third consecutive quarter in Nicosia (0.2%), Limassol (0.9%), and Famagusta (0.1%). Larnaca and Paphos recorded small decreases of 0.7% and 0.6%, respectively.

With regard to annual changes in the residential property prices, Limassol recorded an increase of 0.9%, the first from the third quarter of 2010. On the other hand, the remaining districts recorded annual decreases, with the highest being in Famagusta (3.7%), and the lowest in Nicosia (0.1%). In Larnaca, residential property prices recorded an annual decline of 0.8%, and in Paphos 1.4%.

It is however noted that these annual declines have slowed and the districts are expected to record increases in the near future, given the recovery of the real estate sector continues.

On a quarterly basis, apartment prices recorded a 1.4% increase in Limassol and stabilization in Larnaca and Famagusta districts. On the contrary, in Paphos and Nicosia, apartment prices recorded a quarterly decline of 1.5% and 0.1%, respectively.

As far as house prices concerns, the districts of Nicosia, Limassol and Famagusta noted small quarterly increases of 0.3%, 0.7% and 0.2%, respectively. A small decrease of 0.9% was recorded in Larnaca while prices in Paphos remained stable.

On an annual basis, apartment prices in the first quarter of 2017 increased in Nicosia (0.2%), Limassol (2.1%) and Larnaca (3%). On the contrary, there was an annual decrease in the districts of Paphos (3,1%) and Famagusta (2,6%).

On an annual basis, house prices rose 0.5% and 0.3% in the districts of Limassol and Paphos, respectively. An annual decrease was recorded in Nicosia by 0.2%, in Larnaca by 2.5% and in Famagusta by 3.1%.


Trilogy Limassol Seafront Welcomes Valued Associates at First Sales Office Event

Cybarco - a member of the Lanitis Group - held an exclusive presentation of its latest ...

Financial Times: Cyprus Developments Offer a Passport to the Sun

The Cyprus property sector, a much-discussed topic among international investors, has ...

Leptos Estates Participates in the 3rd Cyprus Citizenship Summit

Another successful event has been completed these days in Limassol with the participation ...



ECB to End Stimulus Programme in December

The European Central Bank (ECB) has confirmed it will end a huge programme to stimulate the eurozone economy in December. The ECB will stop its bond-buying ...

Fear in the Workplace: How Much is it Costing you?

Fear is good: it keeps us alive and safe; and in the workplace, it can spur us on to achieve. But left unchecked, it can significantly impact our abilities, ...

Snapbox Holdings: Cyprus Has a Potential of Becoming a Key Investment Destination

Looking at the current investment climate in Cyprus, it is clear that foreign investments constitute one of the most important factors in Cyprus’ ...

Georgiades: European Fiscal Framework Rules Need to be Simplified

Finance Minister Harris Georgiades has expressed the view that the rules of the European fiscal framework ought to undergo a reform and become more simplified, ...

Three ISO Certifications for VTS Vasiliko Terminal Services

VTS Vasiliko Terminal Services (VTS), a leading marine services provider at Cyprus’ ports and terminals, and member of the Limassol-based RPT Group, has ...

Royal Academy of Dramatic Art Trains CFA

Members of CFA Society Cyprus had the opportunity to follow professional presentation, executive presence and story-telling seminars by professional trainers ...

Oracle and PwC to Support Finance Transformation for Insurers and Provide IFRS 17 Compliance Expertise

Oracle Financial Services Analytical Applications (OFSAA) and PwC, an Oracle PartnerNetwork (OPN) Platinum and Cloud Elite partner, announced today a global ...

Petrolina: Grand Sponsor of Charity Concert by the Association of Friends of Agia Skepi

Cypriot petroleum company PETROLINA was once again the grand sponsor of the annual charity concert organised by the Association of Friends of Agia Skepi in ...