Cyprus Property Index recovering
The Residential Property Price Index recorded an increase for the first time since the beginning of 2021.
Apartments showed an increase of 1.2% in prices compared to last quarter while houses rose by 0.2%.
Since the beginning of 2021 apartments had a total increase of 2.5%.
There is no clear reason for the increase however it is possible that this increase is because of the governmental scheme that subsidises interest rate for first-time buyers.
It is noticeable that Luxury Properties showed a decrease mainly because of the abolishment of the investment scheme.