26.04.2023
Cyprus Real Estate and Technology Company Ask Wire on Wednesday released the latest version of its real estate market index, updated for the first quarter of 2023, and showed that property prices and rents rose again.
Ask Index Wire , which provides valuable information on property sales and rentals in Cyprus, covers all areas and major property types, and has been tracking values since the fourth quarter of 2009.
Ask index Wire , for the first quarter of 2023, annual property prices rose by 12.3% for apartments, 3.1% for houses, 2.4% for offices, 8% for holiday apartments and 3.1% for holiday homes, but decreased by 0.1% for retail space and 1.8% for warehouses.
Overall, quarterly sales volumes increased by 3.2% for apartments, 1.3% for houses, 0.4% for retail space and 1.4% for offices, while performance for warehouse space remained stable. The cost of apartments and holiday homes increased by 1.8% and 1.5% respectively.
As for rent, compared to the first quarter of 2022, it increased by 19% for apartments, 12.2% for houses, 3.3% for retail space, 1% for warehouses, 7.5% for offices, 19 .1% for country apartments and 14.5% for country houses.
Quarterly rental rates increased by 2.6% for apartments, 1.5% for houses, 0.7% for retail space, 0.8% for offices and remained stable for warehouse space. The cost of renting apartments and holiday homes increased by 2.3% and 1.3% respectively.
