Description
Construction

The latest data regarding the “Indicators of confidence and economic sentiment” published by the European Commission in January 2016 shows that the construction

confidence indicator in Cyprus exhibited an improvement from -49,8 in December 2014 to -21,3 in December.

Moreover, according to the real estate report of the Central Bank of Cyprus “the recovery of the economy, improving financial conditions,

reduced lending rates and progress in structural changes to improve the framework for issuing title deeds are developments that are expected to have a positive impact on demand for real estate and on house prices”.
Building Permits

Total building permits up to November2015 amounted to 4.581. This is marginally lower by 0,15% from the January-November 2014 equivalent figure. Residential building permit numbers decreased by 1,21%, whereas nonresidential building permit numbers decreased by1,19% in the relevant period.
Deeds of Sale

In relation to deeds of sale, the 2015volume of transactions accumulated to 4.952, a 77% decrease in comparison to 2007, when the economy and especially the real estate sector, were thriving and transaction volumes reached a total of 21.245. However, a 9,4% increase was exhibited in comparison to the 2014 total figure.

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Residential property: i) Apartments –the average price of an apartment of 85sq.m. in 2015 was €100.866 and the average monthly rent was €324
ii) Houses – for a house of 250sq.m. was €327.439and €531 respectively. Retail prop
erty – vary Offices – vary
Description
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Real | Estate | Land | Development
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