The second quarterly Cyprus Property Price Index (CPPI) has just been published by RICS. This RICS CPPI was first introduced in February 2010 and it tracks property prices and rents accross the island. It monitors fluctuations in apartments, houses, offices, retail and warehouses prices as well as rents.
New average price for an apartment in Paphos is €151.000, for a house €460.000. Apartment in Limassol costs averagely €175.000, in Nicosia €170,000, €180.000 in Larnaca and €131.000 in Paralimni. Average prices for houses are €492.000 in Limassol, €520.000 in Nicosia, €409.000 in Larnaca and €413.000 in Paralimni.
The property Price Index has recorded decrease in prices for residential Cyprus Properties by 4.5% (apartments) and 1.6% (houses). At the same time values of commercial properties dropped by an average of only 1.4%. Prices for offices though rose by an average 1.4%.
Rents accross the island fell for apartments, houses and retail properties by 1.9%, 2.7% and 1.5% respectively. Increase of warehouses and offices rents has been recorded: 1.0% and 2.7% respectively.
Average Property Price in Cyprus Q1 2010
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| Nicosia | Limassol | Larnaca | Paphos |
Paralimni/ |
|
| Apartments | €170,000 | €175,000 | €180,000 | €151,000 | €131,000 |
| Houses | €520,000 | €492,000 | €409,000 | €460,000 | €413,000 |
| Retail | €1,079,000 | €912,000 | €550,000 | €732,000 |
€341,000 |
| Warehouse | €2,280,000 | €2,498,000 | €1,933,000 | €1,405,000 | €1,125,000 |
| Office | €804,000 | €600,000 |
€480,000 |
€523,000 | €329,000 |
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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
