KPMG in Cyprus announces that the “RICS Cyprus Property Price Index, with KPMG in Cyprus” has been issued for Q4 2021.
On behalf of RICS, Simon Rubinsohn, RICS Chief Economist, commented: “Real estate trends generally remain positive in Cyprus reflecting the resilience of the economy in the face of various variants of Covid. This is particularly evident in the visible pressure on apartment prices which, at a national level, have risen by around four percent over the past year. But, significantly, the latest ‘RICS Cyprus Property Index with KPMG’ suggests the rising trend in pricing is reasonably broadly based across the sectors reflecting firmer demand for property”.
On behalf of KPMG in Cyprus, Christophoros Anayiotos, Head of Real Estate Sector, stated:
“The last quarter of 2021 shows increases in apartments (most areas), in retail property (Paphos), in warehousing (Larnaca), as well as in offices (Limassol, Paphos). On the other hand, holiday houses are facing a slight downturn, but holiday apartments in Paphos are facing an upturn. Overall, momentum appears to be building up provides a positive outlook in the real estate sector, and it is likely that this would continue further into 2022 as well”.
The publications can be found on the RICS website.
ENDS
About KPMG in Cyprus
KPMG has been operating in Cyprus since 1948 and currently employs more than 850 professionals working from 6 offices across the island (Nicosia, Limassol, Larnaka, Pafos, Paralimni and Polis Chrysochous). It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 145 countries and territories and has approximately 236.000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.
About RICS
We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.
Our work with others provides a foundation for confident markets, pioneers, better places to live and work and is a force for positive social impact.
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