In 2024, it is anticipated that rent prices and apartment and house sales prices will not decline; however, certain cities within each category are expected to defy this general trend.
The data provided by "F" from the Danos and Associates office indicates that the prices of the properties are commensurate with their location, view, age, and other unique features. The sale prices of houses and apartments in Nicosia are anticipated to stay between €3,000 and €4,500 per square meter, as they were in 2023 and the two years prior (though these estimates are relative rather than absolute).
The average selling price of homes and apartments in the province of Famagusta is predicted to remain between €3,000 and €4,000 per square meter in 2023. It should be noted that there will be no annual changes to this price starting in 2020. According to projections from the Danos office, the sales prices of houses and apartments in Limassol in 2024 will range from €4,500 to €5,500 per square meter, similar to what they were in 2023.
When compared to prior years, prices have changed significantly. For instance, the selling price per square meter was between €3,500 and €6,000 in 2020 and 2021 and between €3,500 and €5,000 in 2022. Larnaca and Paphos are the two cities where price estimates indicate that the sale prices of homes and apartments will rise.
According to estimates, Larnaca's sales per square meter will increase from €2,500 to €3,500 in 2023 to €3,500 to €4,000 in 2024. It is projected that the prices at which houses and apartments will be sold in Paphos in 2024 will range from €2,500 to €3,500 per square meter, up from €2,000 to €3,000 in 2023. Based on the data, there shouldn't be any significant surprises regarding rent prices.