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Experts: Cyprus real estate market almost reached the bottom

02.03.16
Since 2007, on Cyprus, there was a continuous decline in property prices. However, at this point we can already assert that the local real estate market is almost reached the bottom. Most likely, in the near future it will be possible to see how it starts to recover.
According to the data for the fourth quarter of 2015 in cities such as Limassol and Famagusta decline in apartment prices was 1.4% when compared to the third quarter. At 0.8% in the reporting period decreased prices for such housing in Nicosia. Thus, in Larnaca fixed price increase for the same 0.8%. It remained unchanged price of apartments in Paphos.
In this case, with houses somewhat different picture. The most significant decline in prices was observed in the houses in cities such as Paphos (-0.8%) and Nicosia (-0.6%). The cost of houses in Limassol, Famagusta and Larnaca has not changed.
As for the average annual rate, the apartments became cheaper by 1.6%, and at home with the 3rd bedroom - by 0.3%.
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