The very first quarterly Cyprus Property Price Index (PPI) has been finally published. According to it, the average property price in Cyprus has reached €2,000 per square metre for a house and €1,865 per square metre for an apartment.
Highest valued prices for the houses and commercial properties are recorded in Nicosia and Limassol. Average house in Nicosia at the beginning of 2010 costs €523,438, same house in Limassol costs €496,250 and €460,417 in Paphos. The highest prices for the offices are in Nicosia - €758,000 per unit on average.
Cyprus Property Price Index was developed by Royal Institution of Chartered Surveyors Κύπρου (RICS) in cooperation with Cyprus Association of Quantity Surveyors and Construction Economists (ΣΕΕΟΚΚ). It will be published every 3 months and will monitor property prices for different property types and monthly rents in 46 Cyprus locations. This index will be an important guiding tool, which will be useful for the state, in order to estimate revenues from the property taxes, for the banks and for the property investors.
Average Property Price in Cyprus - First Index
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| Nicosia | Limassol | Larnaca | Paphos |
Paralimni/ |
|
| Apartments | €171,155 | €177,978 | €187,590 | €154,917 | €153,790 |
| Houses | €523,438 | €496,250 | €438,750 | €460,417 | €412,500 |
| Retail | €1,079,167 | €912,500 | €550,000 | €775,000 |
€350,000 |
| Warehouse | €2,280,000 | €2,700,000 | €1,933,333 | €1,405,000 | €1,200,000 |
| Office | €758,000 | €600,000 |
€480,000 |
€523,333 | €337,500 |
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what our clients say about us
Even before buying our property from them, we had heard about Hadjidemosthenous from our friends. They told us that this Cyprus developer has been established for many years and offered value for money properties. We were thrilled when we finally purchased our apartment: smart layout, very good quality finishes, outstanding range of facilities and comprehensive customers support. We would definitely recommend this developer to our friends.
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179, Demokratias Avenue
P.O. Box 60402
8028, Paphos - Cyprus
Tel: +357 26 822333
Fax: +357 26 931117
Freephone: 80 00 00 90
Email: moc.ytreporpsofap@ofni
