Rise of the Cyprus Real Estate Sector

International appeal

Cyprus’s appeal has remained strong amongst international investors, expats and retirees thanks to its Mediterranean climate, high quality of life and safety. An EU Member state that is strategically located at the hub of the Middle East, Europe and Africa and therefore attracting a wide and varied audience.

Interest from foreign home buyers and international investors has become a driving force of the sector with both the demand and real estate prices consistently rising over the past 3 years according to the RICS residential index.

Cyprus also has one of the highest home ownership rates in Europe.

Building permits Issued

Confidence levels in the Cyprus real estate sector have been steadily rising with 2016, 2017 and 2018 showing strong market performance. Many projects are forging ahead with more planned and in the pipeline. Residential projects as well as luxury developments are very much in demand with an increase of 20% in the number of permits issued in 2018.

Increased annual sales activity

The Cyprus real estate sector has seen steady sales activity since its trough in 2013 with continuous increases in sales activity every year. This has been consolidated with a healthy and sustainable growth in sales activity of 6% in 2018.

Real Estate Price Evolution

The Cyprus real estate sector is very much on an upward trajectory and the beginning of a real estate price revolution. Amidst an economic recovery and a resurgence of international investment the real estate sector is clearly experiencing good sustainable performance with YoY price growth of 3% in 2016, 5% in 2017 and 7% in 2018. Prices of residential properties have increased for the 12th consecutive quarter as captured by the Royal Institution of Chartered Surveyors (RICS) Cyprus.

For further assistance with the Cyprus real estate sector opportunities or the Cyprus Investment Programme contact [email protected]