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Cyprus property analysis by PWC confirms positive market.

Date: 12/12/18

International accounting and auditing firm Price Waterhouse Coopers have produced a thorough report on the Cypriot property market that confirms a broadly positive first 6 months of 2018.

One of the major contributing factors for the strong market is the Cypriot Government’s Citizenship-by-investment scheme that proves to be a strong catalyst for multi-million Euro transactions, allowing participants and their families to apply for Cypriot (E.U.) passports.

Away from the selling of high-rise luxury flats in Limassol the general market of resale properties has also benefited from investment clients, as good properties with title deeds are proving to be highly desirable to a large base of potential buyers. Resale market continues to follow straightforward rules of strong demand for good quality and desirable locations; while properties that are overpriced or with any faults still do not sell. Talk of huge price increases are quite literally an urban myth. However, price drops have all but stopped, especially for properties in and around our Paphos office on Tombs of the Kings avenue. The strongest demand is currently noted for one-bedroom apartments in good quality projects. The downwards price trend for such properties has been noticeably reversed.

At Cyprus Resales we have a very diverse client base with buyers coming from all over the world. In what is a volatile market we are more able to give a property the widest possible exposure. Sellers who rely on one-dimensional agents with a single source of international clients could find themselves without a buyer. So, why take a risk and waste valuable time? Employ Cyprus Resales and get your property sold in shortest time and at the best price.

We at Cyprus Resales support the positive outlook of PWC on the property market and support their opinion that the market bottom has indeed passed. Now is the opportune time to buy a quality resale. If you are interested in more details, the full report by PWC can be read here: PWC analysis

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