What has happened? According to a joint study by RICS Cyprus Property Index and KPMG, the second quarter of 2023 was marked by a further growth in prices for purchase and rental values of property in Cyprus.
Dynamics of real estate prices (Q2 2022 - Q2 2023):
- Apartments up 12.11%
- Houses up 9.03%
- Retail premises up 1.57%
- Warehouses up 6.95%
- Offices up 8.46%
Holiday home prices
- Holiday apartments up 9.00%
- Holiday houses up 8.53%
Rental values year-on-year
- Apartments up 18.99%
- Houses up 14.46%
- Retail premises up 2.90%
- Warehouses up 3.07%
- Offices up 8.30%
- Holiday apartments up 20.01%
- Holiday houses up 11.24%
Rental yields
- Apartments 5.44%
- Houses 2.93%
- Retail 5.81%
- Warehouse 4.27%
- Office 5.39%
- Holiday Apartments 5.73%
- Holiday Houses 2.77%
Source: Cyprus Property News
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