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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 02/Sep 13:28

Residential market shows signs of cooling

The island’s residential market is cooling down for the first time in four years, despite significant annual increases in property prices and rents across Cyprus. Recent quarterly data suggest that this slowdown is evident in the stabilisation, and in some cases, slight decline, of house and apartment prices. For the first time since 2020, the quarter-on-quarter increase in property prices is hovering close to 0%, with some areas even experiencing negative growth. In Limassol, the island’s priciest city, apartment prices dropped by 0.5% in Q2 2024 compared to Q1, a notable shift from the 2% increase observed in Q1 from

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