Property in Cyprus 
недвижимость на кипре

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Cyprus economy grows for the first time in over 4 years.

Date: 19/05/15

Further evidence of the recovery of the Cypriot economy was shown in the latest set of GDP figures for the first quarter of 2015.

During this period the Cypriot economy grew by 1.4%, which is much faster than the rest of the Eurozone which could only muster 0.4%.

Growth was driven by rise in tourism and the positive effect of structural reforms imposed by the troika of international creditors. The Cypriot economy has turned around quite quickly considering the shock of the banking crisis and subsequent reduction of investment.

With economic activity being driven largely by foreign money things are looking up for Cyprus and for Paphos in particular. Here in Paphos preparations for 2017 European City of Culture are in full swing. Large infrastructure projects like upgrading of the Tombs of the Kings area are seen to be moving along nicely.  

We expect the demand for quality resale properties with title deeds to pick up over the next year and signal a stabilization of prices before a steady increase in 2016-2017.

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