Updated Cyprus Property Price Index for Q2 2022
According to the latest data from KPMG, here is an update on the Cyprus real estate market for Q2 2022:
Republic of Cyprus
In its overview of the Cypriot real estate market in Q2 2022, RICS – the Royal Cyprus Survey and Notary Institute – together with KPMG released the Cyprus Real Estate Market Data Report, which showed a relative increase in most property values, however they remained below the baseline established in Q4 2009.
The residential real estate market is performing well, with apartment and house prices trending upwards. However, the retail and warehouse real estate markets continue to struggle, despite price stabilization in both sectors.
Real estate market value Compared to the same period last year, the value of all types of real estate has increased across the island:
- Apartment prices increased by 8.09%.
- Housing prices increased by 4.62%.
- Retail space increased by 1.39%.
- Warehouse space increased by 1.91%
- Offices increased by 3.42%.
- Resort properties: The value of resort properties (apartments and houses) has increased since the first quarter of 2016. Although their values declined in early 2020 until mid-2021, they are still continuing their upward trend.
- Apartment prices increased by 9.5%.
- Housing prices increased by 11.48%.
- Retail space increased by 2.14%.
- Warehouse space increased by 2.02%.
- Offices increased by 3.42%.
- Vacation apartments increased by 8.33%.
- Vacation homes increased by 5.03%.
- Apartment 4.99%
- Housing 2.75%
- Retail space increased by 5.74%.
- Warehouses 4.43%
- Office 5.29%
- Vacation apartments 5.06%
- Vacation homes 2.66%