12.07.2022
The rise came in 2022 – the year that the real estate market as a whole began to stabilize – prices for the sale and rental of office space after significant increases were recorded according to a recent report by Danos Estates.
According to the report, the upward trend in prices was the result of a rebalancing caused, on the one hand, by a wave of supply of modern office space, which at the end of the first half of the year exceeded previous levels for the first time , and on the other hand, there is an increased demand.
In particular, compared to other categories of real estate, the cost of office space has been constantly growing, mainly due to increased demand, which inevitably pushed prices up.
Prices by province
According to the Danos Estates report, the highest prices are observed in Limassol, where the maximum sale price reached 12,416 euros per sq.m.
In general, in the Limassol area, purchase prices range from 4,500 to 6,500 euros per square meter. m, and for rent – from 20 to 40 euros per sq.m.
The cheapest province is Famagusta , where the cost of buying offices ranges from €1,300 to €1,500 per sq.m. and for rent €6 – €10 per sq.m.
As for the prices for office space in Nicosia , when buying, they start from €3,500 and reach up to €4,500 per sq.m, and when rented, they range from €12 to €22 per sq.m.
In the province of Larnaca, purchase prices range from €1,800 to €2,500, and rental prices range from €8 to €10 per sq.m.
In Paphos, office purchase prices start at €1,400 and go up to €2,000 per sq. m. m, and rent ranges from €7 to €10 per sq.m.
