RICS Cyprus Property Price Index Q1 2015: Prices as at 31/03/15

The twenty-second publication of RICS’ Cyprus Property Price Index, a quarterly price and rental index, has been recently published.  The Index tracks property and rental prices across all districts and main property types. The price index observes that during the first quarter of 2015  the Cyprus economy showed some signs of stability, with the economy’s performance being better than expected and tourism mildly outperforming forecasts. The Property Price Index has recorded falls in most cities and asset classes, with significant falls being recorded in Nicosia. Across Cyprus, movements in property prices appear mix as residential prices for flats fell by 0.4% while an increase of 0.6% was noted for houses. The biggest drop being in Limassol (1.0% for flats) and the biggest increase in Larnaca (3% for houses). Values of retail properties fell by an average 1.7%, offices by 0.1%, while warehouses increase by 1.3%. For a detailed analysis of the average property price, the average monthly rent per property and the initial yield, click below.

Cyprus Property Index Q1 2015 final