Cyprus Property Price Index Q2 2015 Prices as at 30/06/15

The twenty-third 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 second 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. Unemployment remained at a historical high level, stabilised at ca 16%, and discussions were ongoing regarding privatisations of state owned enterprises and the foreclosure law was implemented. Given prevailing economic conditions and the turbulence in Cyprus’ banking system, there were few transactions during the quarter although volume was higher on a year on year basis. Local buyers in particular were the most discerning as the increase in unemployment and the prospects of the local economy maintained the lack of interest. Furthermore, those interested are trying to access bank-finance.

For a detailed analysis of the average property price, the average monthly rent per property and the initial yield, click below.

Cyprus Property Index Q2 2015 final