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Cypriot property prices rise 19.2% in 2007
Country: Southern Cyprus
23rd January 2008
Average property prices in Cyprus rose by 19.2% in 2007, despite a monthly price decrease of 1.9% in December, according to the latest BuySell Home Price Index. Average Cypriot home Prices now stand at just over €185,000 (approx £137,000). Speaking to Homes Overseas on-line, Litsa Chrysostomou of BuySell Real Estate, said: “The Cypriot property market recorded tremendous capital growth last year, and we expect average prices to rise further in 2008. We do accept that this may be at a slower rate of appreciation, partly because of the slowdown in the British property market. However, we do believe that Cyprus’ decision to join the eurozone will attract more buyers from other European countries.” Chrysostomou forecasts that the greatest capital growth this year will be achieved in areas, which are receiving infrastructural improvements, such as Paphos, Larnaca, Limassol and Polis. Editor's comment Although Cyprus will remain a popular holiday home destination, Litsa Chrysostomou is right to point out that the Cypriot property market may be affected by the downturn in the UK property market. This is simply because a significant proportion of property purchasers in Cyprus come from Britain. It is also worth noting that Cyprus’ decision to replace the Cypriot pound with the euro currency (as of Jan 1st 2008) has now made it more expensive for Brits to currently buy property for sale in Cyprus, due to a strong euro against the pound. This may deter some people from buying property in Cyprus in the short-term. Existing Cypriot homeowners on the other hand may reap the rewards from the current exchange rate should they decide to sell now.
Some properties in Southern Cyprus
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Price: £36,666 (GBP)
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Type: Studio
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2 studio units available, Close Peyia village, Covered area 40 m2, Balcony 10 m2, Pool, Covered parking, Lift, Fitted kitchen. Built year 2008, Coastal & mountains view.
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View details | Enquire further
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Price: £49,116 (GBP)
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Type: Apartment
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Bedrooms: 1
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* Popular location in the Universal area* 1 Double Bedroom * 1st floor * Covered Area 50sq.m * Fully equipped kitchen * Fully furnished * Built 1995 * Title deeds * No Communal Charge * Viewing recommended * only €59,750220
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View details | Enquire further
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Price: € 65,000
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Type: Apartment
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Bedrooms: 2
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Located off Tomb of the Kings Road within 5 minutes walking distance of Sea Front, Supermarkets, restaurants, coffee shops, tavernas etc. Ancient sites, churches, the harbour with its imposing castle and many other exciting places are nearby. 220
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View details | Enquire further
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Price: £65,833(GBP)
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Type: Apartment
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Bedrooms: 2
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*Title Deeds
*350m to Sea
* 2 Double Bedrooms
*Tomb of Kings Area Close to Amenities
* Family Bathroom
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View details | Enquire further
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Price: € 69,000
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Type: Apartment
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Bedrooms: 1
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An excellent ground floor apartment , few years old , in the tourist area of the Tombs of the Kings , fully furnished , close to all the amenities , restaurants , bus stops , hotels , bars , to the beach .
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View details | Enquire further
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Price: € 70,000
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Type: Apartment
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Bedrooms: 2
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A fully furnished 2 bedroom apartment located in Kato Paphos. The property is 27 years old , is on the 4th floor ,there is no lift , has a wonderful sea views and is within walking distance to the beach and all amenities.
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View details | Enquire further
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Price: £70,833 (GBP)
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Type: Apartment
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Bedrooms: 2
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Excellent 2 bed apartment in Tomb of the Kings area of Paphos, close to all amenities, title deeds included, 84m2 covered area,3rd floor, lift, balcony, communal pool, parking, solar water heating, shutters , furnished! 220
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View details | Enquire further
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Price: £74,166 (GBP)
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Type: Apartment
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Bedrooms: 2
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2 bed townhouse in Tomb of the Kings area,
Large lounge/ Dining area<
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View details | Enquire further
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Price: CY75,000
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Type: Apartment
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Bedrooms: 2
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Description: Key features:
· In one of the south’s most sought after areas
· Just a 10-minute drive to Ayia Napa, Protaras and Paralimni
· Spectacular sea views
· All amenities close by
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View details | Enquire further
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Price: CY75,000
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Type: Apartment
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Bedrooms: 2
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Description: Key features:
· In one of the south’s most sought after areas
· Just a 10-minute drive to Ayia Napa, Protaras and Paralimni
· Spectacular sea views
· All amenities close by
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View details | Enquire further
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