Are Property Prices Increasing or Decreasing in Cyprus?

Your Guide to Current Property Prices

In recent months, Cyprus has seen a rise in property prices – particularly when it comes to apartments. According to analysis by the Central Bank of Cyprus (CBC), this upward trend has been largely fuelled by an increase in demand. So, what does this mean for someone like you who is interested in property investment in Cyprus? Here is everything you need to know, along with how we can help you navigate the market with ease.

Drivers of the Surge

The rise in property prices in 2022 was attributed to escalated construction costs – something that was not only seen in Cyprus but all over the world. However, it has become clear that the market’s dynamics have shifted once again. The current upswing in prices is now mainly driven by heightened demand for properties, indicating a strong and highly competitive real estate market in Cyprus.

Contribution of Foreign Buyers

Foreign buyers have always played a pivotal role in the Cyprus property market, but this year they have well and truly staked their claim on the island. Purchases by investors from outside the EU, including here in the UK, have gone up by a third in 2023. This influx of international buyers not only reflects the appeal of Cyprus as a property investment destination, but also underscores the global appeal a home on the island has.

Navigating the Fast-Moving Market

With prices on the increase and demand at an all-time high, it has never been more important for buyers to have a reliable guide for property investment in Cyprus. That’s where we come in! We are a key player when it comes to property acquisition in Cyprus, offering invaluable insights and putting strong connections within the local real estate landscape to good use. Our insider knowledge positions us as a key partner for those looking to navigate the dynamic market conditions. Without our help, it could be a rocky road – particularly if you have never invested in property abroad before.

South Cyprus Property Trends: Riding the Upward Wave

In the southern part of Cyprus, property prices have experienced a notable uptick in recent months, with a particular emphasis on the apartment sector. The Central Bank of Cyprus (CBC) attributes this surge to a significant boost in demand, creating a dynamic market landscape. For potential property investors eyeing South Cyprus, this upward trajectory suggests opportunities for capital appreciation and promising returns. The burgeoning demand indicates a positive sentiment for property investment in South Cyprus, making it an opportune time for those considering investments in apartments or other residential properties.

North Cyprus Property Landscape: An Intriguing Shift

Meanwhile, in North Cyprus, a distinctive shift in property dynamics adds intrigue to the real estate landscape. While the market in the north may not mirror the pronounced rise seen in the south, it presents its own set of opportunities. Understanding these nuances is crucial for investors looking to explore the unique potential of property investment in North Cyprus. Our tailored guidance ensures you stay informed and make decisions aligned with the distinctive dynamics of this captivating property market.

Investment Opportunities

While property prices are on the rise, it doesn’t necessarily mean that potential investors should shy away from Cyprus. On the contrary, the current scenario presents a unique window of opportunity, especially for those who are seeking a strong resale following renovation. We’re ready to help investors achieve their property goals, offering tailored solutions that align with individual investment strategies. We also know which locations offer the best value for money, so we can cater to clients with all kinds of budgets.

We’re Here to Help

Prices in Cyprus are on the rise, and so is interest from our clients! If you are keen to snap up property on this idyllic island, then please do get in touch with our team today. The market has never been more competitive, and having us in your corner will help you to get a head start and complete on the property of your dreams.

Contact us