The 24th edition of the RICS Cyprus Property Price Index issued the report about the average price for the property in Cyprus on 27th October 2015.
Average price for apartments in Cyprus fell by 0.4% and the average price of houses fell by 0.5% in the end of 2015. Famagusta district saw the largest fall in residential apartment prices (-1.2%), while prices in Limassol, Larnaca and Paphos saved unchanged.
Compared with the third quarter of 2014, the average price for the apartment has fallen by 1.9%, while the average price for 3-bedroom semidetached house has fallen by 1.3%.
Retail property has fallen by 4.0%, while the prices of offices and warehouses have fallen by 2.7% and 1.8% respectively.
Rental values across Cyprus increased by 0.3% for apartments, 1.5% for houses, 4% for retail, 2.5% for warehouses and 0.2% for offices. The majority of asset classes and geographies continue to be affected, with the areas that had dropped the most early on in the property cycle now nearing or at the touch, e.g. Paphos and Famagusta are showing some signs of price stability. Paphos is the only district with positive returns in all asset classes when compared to the third quarter of 2014.
Average prices for property in Cyprus (euro)
|Location||Type||To Buy||To Rent per month||Average price per square meter per month|