Actual property values ​​proceed to fluctuate

WiRE FS has revealed its Q3 2021 version of the WiRE index of actual property and rental values. The WiRE index covers all neighborhoods and main property sorts, with values ​​from the fourth quarter of 2009.

Gross sales values

In Cyprus, on a quarterly foundation, gross sales values ​​elevated 0.9% for residences and decreased 1.1% for homes, 1.4% for business properties and 1.5% for warehouses and places of work.

The gross sales values ​​of vacation residences and vacation houses rose by 0.3% and fell by 1.7% respectively.

Nicosia stands out among the many neighborhoods, with dwelling gross sales values ​​persevering with to rise for the fourth consecutive quarter (1.1%).

On an annual foundation, island-wide costs elevated 0.7% for residences, 0.1% for homes and 0.5% for trip residences, and decreased by 4, 1% for companies, 3.8% for warehouses, 2.0% for places of work and 4.3% for holidays. Homes.

Rental values

On a quarterly foundation, rental values ​​elevated 1.1% for residences and 1.3% for homes, and decreased 1.1% for companies, 1.4% for warehouses and a pair of.5% for places of work.

Rental values ​​of vacation residences and vacation houses elevated by 0.3% and 1.0% respectively.

Paphos stands out among the many neighborhoods, with retail rental values ​​persevering with to say no for the fourth consecutive quarter (5.3%).

On an annual foundation, rental values ​​throughout the island elevated by 0.2% for residences, 1.2% for homes and 0.3% for vacation residences, and declined 6.9% for outlets, 2.3% for warehouses, 4.8% for places of work and 4.8%. for trip houses.

Quarterly change in actual property values
Property sort Q2 2021 sale worth
Rental worth Q3 2021
Residences 0.9% 1.1%
Homes -1.1% 1.3%
Business -1.4% -1.1%
Warehouses -1.5% -1.4%
Workplace areas -1.5% -2.5%
Vacation residences 0.3% 0.3%
Vacation houses -1.7% 1.0%

Supply: WiRE FS

Annual change in property values
Property sort Q3 2021 gross sales worth Rental worth Q3 2021
Residences 0.7% 0.2%
Homes 0.1% 1.2%
Business -4.1% -6.9%
Warehouses -3.8% -2.3%
Workplace areas -2.0% -4.8%
Vacation residences 0.5% 0.3%
Vacation houses -4.3% -4.8%

Supply: WiRE FS

Pavlos Loizou, CEO of WiRE FS, mentioned that “The financial downturn has had a major influence on business properties, retail companies and places of work, notably affecting small and medium-sized companies that rely on international demand / guests or are linked to the tourism business.

“In distinction, demand for residential properties, pushed by decrease rates of interest, low deposit charges and an absence of funding choices, has resulted in vital funding from residents.

“Whereas the quantity of transactions has recovered sharply and the costs of sure sorts of properties expertise a rise, we’re nonetheless removed from a return to stability, because the financial system is determined by tourism and the influence on the banking sector has not but manifested itself. “

Additional studying

WiRE index: Q3 2021

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