Price rise in Cyprus property market

Price rise in Cyprus property market

Prices for most types of property in Cyprus are increasing according to the latest statistic figures announced by KPMG.

The latest Property Price Index (for the fourth quarter of 2021) also reports that demand for property is increasing with a 15% rise in transactions over the quarter.

The number of properties sold to non-EU citizens who registered contracts of sale at Land Registry offices increased by 20% compared to the previous quarter – and by 30% compared to the fourth quarter of 2021.

Prices for apartments increased by 1.47% and remained steady for houses.

As for the rental values, over the fourth quarter, they rose for apartments by 1.23% and for houses by 0.65%.