27.12.2023
A decrease in prices for apartments and houses is not expected in 2024, and rental prices are also unlikely to decrease. However, there are cities that will be exceptions to this general trend.
According to data provided by Phileleftheros from the Danos office and Associates (prices vary depending on location, type, age and other specific characteristics of the property (they are relative, not absolute), in Nicosia, selling prices for apartments and houses are expected to remain between 3,000 and 4,500 euros per square meter, as both in 2023 and in the previous two years.
In the Famagusta region , the average sales price of apartments and houses is calculated at the same levels as in 2023, ranging from 3,000 to 4,000 euros per square meter. It is noted that this price has not changed since 2020.
In Limassol , according to Danos office estimates , in 2024 the sale price of apartments and houses will be between 4,000 and 5,500 euros per square meter, the same as in 2023.
Comparing prices with previous years, significant changes are noticeable.
For example, in 2020 and 2021 the sales price per square meter ranged from 3,500 to 6,000 euros, and in 2022 from 3,500 to 5,000 euros. An increase in prices for the sale of apartments and houses is expected in two cities: Larnaca and Paphos.
For Larnaca , estimates show that sales per square meter in 2024 will be between 3,500 and 4,000 euros, increasing from 2,500 to 3,500 euros in 2023.
In Paphos, the sale price of apartments and houses in 2024 is expected to be between 2,500 and 3,500 euros per square meter, compared to 2,000 to 3,000 euros per square meter in 2023. As for rental prices, no major surprises are expected, although there are cities where prices will not remain stable, but will increase in 2024.
