Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index. Sun, 3 Sep 2017
Cyprus residential and commercial real estate prices point to a continuous rapid growth according to THE THIRTIETH publication of the RICS Cyprus Property Price Index. Compared to Q1 of 2016, apartment prices increased 4.9%, house prices increased by 3.3%, while prices for offices, retail and warehouses increased by 2.8%, 2.6% and 14.4% respectively.
During the first quarter of 2017 the Cypriot economy grew by 3.3% on an annualized basis and the unemployment rate while it remained at relatively high levels, it is on a downtrend trend falling to about 12.8% (from the high levels of 17% reached at the end of 2013). Our internal economic models project that the Cypriot public debt will drop to below 90 per cent of gross domestic product by 2020, from around 108 per cent which was at the end of 2016. The yield of the Cypriot 10-year government bond in the secondary market has recently reached 3.3%, the lowest level since the banking crises of 2012-2013. The housing strength in conjunction with the many other positive economic trends that are taking place are strengthening the fundamentals of the Cypriot economy, and are pushing the Cypriot public debt to a downward trajectory.
It is also important to highlight that Cyprus has been (for the last several years) and it continuous to be the entry gateway for obtaining the European Residency and European Citizenship through overseas investments in its residential and commercial real estate sectors. This substantial increase in overseas real estate demand in conjunction with the strengthening of the local housing demand and the improving fundamentals of Cypriot economy are creating an accelerating real estate price growth.
About A&R Cyprus-Greece Fine Properties, Ltd and its affiliate Pythagorean Capital Ltd
A&R Cyprus-Greece Fine Properties, Ltd and its affiliate Pythagorean Capital are private real estate investment, construction and management companies headquartered in Paphos, Cyprus and with offices in Athens, Greece and Washington. DC. Founded in 2013, with a group of development experts and global portfolio managers, the firms are building a diverse client base, including high net-worth individuals, family offices, financial institutions, and other institutional investors. Clients rely on our companies to help them identify and manage real estate assets in both Cyprus and Greece and to obtain their European Residency and Citizenship through real estate investments in either Cyprus or Greece. With that spirit, we also look forward in working with individuals or firms that are in the field of real estate, finance, marketing, immigration and education industries. We work with Asset Managers, Investment Managers and Private Equity Real Estate Firms with third party Marketing or referral Agreements. Send us an email with your contact info and we will try our best to get back to you as soon as possible.
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Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index.
Sun, 3 Sep 2017