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Central Bank of Cyprus Experts predict increase in the cost of housing

22.03.16
The Central Bank of Cyprus published the data for the fourth quarter of 2015, according to which the value of the property on the island has remained unchanged. It is worth noting that for the first time since the third quarter of 2010, the local dynamics of the market has not been negative. Experts attribute this to the improvement of the economic situation in the country.
During the period of 2015 the cost of houses has increased by 0.5%, while the apartments lost in value - 1.6%.
The most significant increase in the cost recorded in the real estate market of Famagusta, which was 2.4%. In Paphos, the value grew by 0.4%, while in Limassol remained unchanged. At the same time in Nicosia and Larnaca, prices fell by 0.5% and 0.1% respectively.
According to analysts, in the near future it is expected that the market really starts to recover.
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