Paphos People

With property prices and rents continuing to spiral during the first quarter of the year, calls have been made for the government to intervene and make sure affordable housing is available for those in danger of being left behind.

According to a report by real estate technology firm Ask Wire this week into the first three months of 2023, property prices across Cyprus have increased by 12.3 per cent year-on-year for apartments and 3.1 per cent for houses. In addition, there was a 2.4 per cent price increase for offices, 8 per cent for holiday apartments, and 3.1 per cent for holiday houses.

Only shop and warehouse prices experienced a drop, having fallen by 0.1 per cent and 1.8 per cent respectively.

Increases in rents have been even higher. Compared to the first quarter of 2022, rents for apartments rose by 19 per cent, for houses by 12.2 per cent, shops by 3.3 per cent, warehouses by 1 per cent, and offices by 7.5 per cent. Moreover, on a shorter timeframe, rents increased by 2.6 per cent quarter-on-quarter for apartments and 1.5 per cent for houses.

FULL Story here:-https://cyprus-mail.com/2023/04/30/property-rental-prices-continue-to-spiral/

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Dave
Moira And Dave

“I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.”

Certain Properties ie bungalows have rocketed in price in the UK town where we live. Small bungalows have now equalled the price of our house.

Looking atbrental prices for my daughters up and coming wedding
Wow! Some of the prices beiñg asked for holiday rental where absolutely outrageous

The rental and buyers market for people on a low wage ...is getting terrible for locals to be able to afford to rent or buy anymore

Glad that the government are looking to step in