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Cyprus property index. Positive developments

16.03.2016

Cyprus property index published by British experts from RICS for the last quarter of 2015 has displayed that despite the trend of general property price reduction across the island, the actual coefficient of decrease has been gradually declining.

The average purchase price in October-December 2015 fell by 0,4% for apartments, and by 0,1% for houses. Within the property rent market there's a reverse trend of average price margin rising by 0,5% and 1,5% for flats and houses respectively.

Analysts contribute a small improvement of the housing market to the gradual rise of demand in different sectors of the economy of Cyprus.

In October 2015 the minister of finance of the republic Haris Georgiades reflected this positive trend in his official statement, while delivering a speech at the private investors' conference «Best Inverst 2015». "I am happy to announce that the long term recession has finaly come to an end. For the fist time in three years the montly yeild of the GDP has a plus sign next to it." - stated the govermnent oficcial.

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