13.12.2022
Ask WiRE , a company that combines real estate expertise with technology, has published a new version of the Ask Index WiRE for the third quarter of 2022. Ask index WiRE has covered all provinces and major property types since the fourth quarter of 2009.
Across Cyprus, on a quarterly basis, sales prices rose by 3.9% for apartments, 1.1% for houses, 0.6% for offices and fell by 0.3% for commercial properties and 1.5% for warehouses. As for holiday apartments and holiday homes, their prices increased by 1.9% and 0.6% respectively. On an annualized basis, prices rose 9.4% for apartments, 1.4% for houses, 3.9% for holiday apartments and 0.4% for holiday homes, while they were down 1.9% on commercial real estate, 5.6% for warehouses and 0.4% for offices. Limassol stands out from other provinces in that apartment prices continue to rise for the fourth consecutive quarter (4.8% in the third quarter of 2022).
On a quarterly basis, apartment rental prices rose 6.0% for apartments, 4.2% for houses, 0.9% for commercial properties, 0.5% for warehouses and 4.1% for offices. In terms of apartments and holiday homes, rental prices rose by 6.4% and 3.0% respectively. On an annualized basis , rental prices rose 16.2% for apartments, 12.2% for houses, 3.9% for offices, 14.5% for holiday apartments and 10.2% for holiday homes, residences and decreased by 1.3% for commercial real estate and 1.6% for warehouses. Paphos stands out from other provinces in that rental prices for apartments and holiday apartments increased significantly by another quarter (up 12.5% and 11.1% respectively in the third quarter of 2022).
