Insight

Over the past five years, the Cyprus real estate market has experienced significant developments. Following a period of recovery from the 2013 financial crisis, property prices have steadily increased, driven by robust demand, especially in prime areas such as Nicosia, Limassol, and Paphos. The government’s citizenship-by-investment program, although recently altered, contributed to a surge in high-end property investments.

Residential property prices have seen a notable rise, fueled by both local and foreign buyers. Commercial real estate has also gained traction, with new office spaces and retail developments emerging to meet business needs. The hospitality sector has witnessed substantial growth, with numerous hotel projects reflecting the booming tourism industry.

Data from the Central Bank of Cyprus and RICS Cyprus indicate a stable upward trend in property values, supported by favorable economic conditions and low-interest rates. The Cyprus Statistical Service reports consistent growth in construction activity, signaling investor confidence and a positive outlook for the market.

As the market evolves, continued monitoring of these trends and economic indicators will be crucial for making informed real estate decisions in Cyprus.