Increase of property prices in Cyprus

According to the latest publication of the RICS Cyprus Property Price Index there has been a very significant increase of real estate prices in Cyprus since the third quarter of 2017. The average price across Cyprus of residential apartments has increased by 17.4% and the average price of houses has risen by 4.2%. Office prices have increased 8.8%, warehouse prices by 4.4% and retail prices by 4.5%. Although increases have been noted across Cyprus, the highest increase was reported in Limassol with 13.2% increase for apartments and 14.3% for houses. The highest increase for offices was in Nicosia with 19.5%. Warehouses and retail properties prices increased 7% in Nicosia.

Rental values across Cyprus have also risen. On a quarterly basis rental values increased by 4.6% for apartments, 2.5% for houses, 5.7% for offices, 1.5% for retail premises, and 0.9% for warehouses.