19.12.2022
CEO of Pafilia property Developers Gospel of the Iliad expresses confidence that the real estate market enters 2023 with good prospects.
In the context of Business Forecasting 2023, Ms. Iliadou emphasizes that 2023 is coming on a very solid and very promising foundation that was built in 2022 to further emphasize that the real estate sector, not only in Cyprus, but and worldwide remains the most stable investment sector.
“The real estate market once again shows itself to be “strong”, but also with a quick reaction, because, despite all the particularly difficult situations in which it has faced and continues to find itself, the indicators are growing, the number of sales is constantly growing, and there is a pleasant development that there is nothing but increased demand from new markets, especially Europe,” he notes.
Pafilia ‘s goals and plans for the new year, the company’s CEO notes that, with quality and innovative projects such as EMU and Minthis in its portfolio , Pafilia will continue to put Cyprus on the map with international projects to create relationships of loyalty, trust and security. with your clients.
How will the Cypriot economy and market move in 2023?
After another difficult year, the Cypriot economy, and in particular the real estate market, enters 2023 with fairly good prospects.
Recent statements by the finance minister have shown that 2022 is expected to close with a GDP growth rate of around 5.5%, with around 2.5-3% expected in the next one to two years.
The real estate market is once again proving to be “strong”, but also with quick reflexes, I would say, because despite all the particularly difficult situations that it has faced and continues to face, the indicators are growing, sales volumes are constantly growing and there is a pleasant development, which is nothing but increased demand from new markets, especially Europe.
Cyprus is an attractive destination
What are your forecasts for the land and real estate sector in 2023? Do you think 2023 will move in a positive sign, a negative sign, or the same as 2022?
I believe that 2023 is coming on a very strong and very promising foundation that was built in 2022. The real estate sector, not only in Cyprus but throughout the world, remains the most stable investment sector. The reasons for choosing Cyprus are many and timeless.
We are watching investors choose Cyprus to relocate their company headquarters in line with new incentives announced by the government. Others choose Cyprus because of the well-being of their family, our environment, and also because they hope for economic stability.
In general, I would say that in addition to all the incentives (fiscal and financial), there is one more incentive – the quality of life and a high standard of living. What we in Cyprus may not distinguish in the same way as foreign citizens, simply because we take it for granted.
Trends that increase the value of real estate
What important trends and developments in your industry should be on the lookout for in 2023?
I believe that the most important trend for 2023 is the transition to a better quality of life. Quality of life is a “broad” term with many uses in the real estate industry.
Many of the demands of new trends include quality materials, space and functionality, modern design, as well as low environmental impact, greener and more energy efficient homes.
The new trend is to provide services that meet the needs of buyers and also increase the value of real estate today.
Goals Pafilia property Developers
What can we expect from your group in 2023? What are your goals?
Our group will also follow the new year with integrity and full commitment to our values and vision.
With quality and innovative projects in our portfolio, such as EMU and Minthis , we will continue to put Cyprus on the map with international projects to build relationships of loyalty, trust and security with our clients.
NEW is our next major project for 2023. It is located in one of the most privileged locations on the waterfront of Limassol and following the new trends we have diversified the plans including an office tower thus responding to the increased demand that exists in the market.
