Cyprus property prices rise steadily

Prices of apartments and villas in Cyprus rose during the first quarters of 2017, new figures show.

The latest RICS Cyprus Property Price Index reports that the average price of residential apartments and houses across the island rose by 1.5 per cent and 1.6 per cent respectively during the first three months of this year.

The Limassol region recorded the largest price rises in this period, with the prices of both apartments and houses rising by 3.8 per cent. Limassol also saw the highest rise in holiday apartment prices at 4.2 per cent, while Paphos saw the highest rise in holiday houses at 3 per cent.

On an annual basis the Cyprus Property Price Index recorded increases in all in all cities with significant increases being recorded in Limassol, Nicosia and Larnaca, whilst Paphos and Paralimni have shown smaller annual increases.

During the past 12 months, apartment prices rose by 6.2 per cent and houses prices by 4.7 per cent.

Article published 16th November 2017