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Monthly Archives: June 2014

Cyprus Property Prices updated

We present the Cyprus Property Prices updated from the The RICS Cyprus Property Price Index, which reports quarterly on real estate values and rents in the major urban areas of the island, reveals that property prices on the island continued to fall over the first quarter of 2014.

Across Cyprus, prices of residential houses and apartments fell by 1.4% and 2.6% respectively during the first quarter of 2014. Famagusta saw the biggest drop with house prices falling by 4.0% and apartment prices falling 9.3%.

Annualised Cyprus Property Prices updated Compared to the first quarter of 2013, the average price of a residential apartment has dropped by 10.7%, while the average price for a house has fallen 7.8% Commercial property prices have fallen even more dramatically, with the price of retail units falling 14.8%, while the price of offices and warehouses have fallen by 10.4% and 11.4% respectively.

However Commenting on the Cyprus Property Prices updated figures MRICS Chartered Surveyor Charalambos Petrides said “it seems property sales in 2013 hit rock bottom but it’s clear that in 2014 real estate sales will move upwards.”

He also said property values are expected to continue on a downward spiral for the first six months with the exception of real estate in prime locations.

Now could be the ideal opportunity to purchase a property in Cyprus as the Cyprus Property Prices updated report states prices will pick up later in the year and remember Cyprus is a small island with finite land to build on.  First line plots are now stated to be below 100 available in the south of the isalnd of Cyprus.

Take a look at our Cyprus properties for sale here to choose your ideal property, if you dont see one please contact us to do a search for your requirements using this link for properties for sale Cyprus

We look forward to assisting you to buy on the beautiful island of Cyprus.

June 2014

Cyprus Property sales improving, is now the time to buy?

Throughout Cyprus property sales improving are greater for the third consecutive month throughout May having solid Cyprus property sales recorded in most districts in comparison with May 2013 results of the land & surveys departments.

Contact us now for upto date information and many property bargains available.

 CYPRUS PROPERTY sales improving throughout May possibly recorded a strong expansion in comparison with May 2013 as outlined by results published through the Lands & Surveys department promoting trust that the Cyprus property residence market may be on the upturn.

Through May the Cyprus property sales improving increased an overall of 551 contracts for purchase of professional, non-commercial and residential houses and plots ended up deposited with Area land Registry offices in Cyprus;

A rise of 157% for the 214 contracts deposited through the similar time this past year.

Of 551 contracts 72% (398) ended up deposited for domestic consumers, whilst 28% (153) ended up deposited in favour of other country residents.

Sales in most districts built significantly in percentage phrases, Nicosia led this area having gross sales escalating by means of 388% to achieve 117 compared to what was sold throughout May 2013.

Sales throughout Famagusta went up 327% and gross sales throughout Limassol greater by 157%, whilst gross sales throughout Paphos and Larnaca were greater by means of 121% and 57% respectively.

Entire gross sales through the first 5 months of 2014 are greater by 20% compared with the identical time this past year.

Cyprus Property sales improving towards the overseas market performed very strongly with sales more than doubling in May when compared with May a year ago climbing to 153  from 71; sales have been upwards in all the Republic of Cyprus Locations.

In growth percentage terms, Nicosia brought about the highest Cyprus property sales improving 800% to achieve 27 compared with May 2013 that was 3. Cyprus property sales in Larnaca elevated 140% to achieve 24 against the 10 sold a year ago.

Growth in Limassol increased 106%, though sales with Famagusta and Paphos increased by 80% and 60% respectively.

During the first five months connected with 2014, Cyprus Property sales improving towards the overseas residents are up 15% when compared to very same time a year ago having elevated to 503 from 439.

 

 

 

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