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Limassol top of the props

Limassol top of the props

24.05.2024

At the end of the first quarter of 2024, Limassol experienced the highest percentage of year-on-year price increases for both apartments and houses.

Pavlos Loizou , CEO of Ask Wire , commented that “geopolitical tensions and unrest in the region continue to impact demand for real estate in the foreign market, accelerating the speed of the impact on prices.

Additionally, high mortgage rates are likely to persist, reducing local purchasing power and stabilizing market prices as demand adjusts. In the second quarter of 2024 and beyond, we expect investment property prices to slow.

This combination of high interest rates, rising construction costs and regional turmoil could significantly impact market stability and impact investment decisions over the long term.”

Property typePricesRent
Apartments0.8%0.9%
At home0.4%0.0%
Commercial0.0%0.0%
Warehouses0.0%0.0%
Office rooms0.2%0.0%
Holiday apartments0.5%0.0%
Holiday homes0.0%0.0%
.
Property typePricesRent
Apartments6.3%9.3%
At home2.1%6.4%
Commercial0.4%4.2%
Warehouses0.0%-0.6%
Office rooms3.0%8.2%
Holiday apartments3.6%5.9%
Holiday homes1.0%3.4%
Source and photo: www.news.cyprus-property-buyers.com, Editor estateofcyprus.com
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