The experience of previous crises, such as Russia's invasion of Ukraine in 2022 and tensions in Lebanon, demonstrates the remarkable resilience of the real estate sector in Cyprus, the CEO of Landbank Group, Andreas Christophorides points out, emphasising that Cyprus continues to be an alternative safe haven for investors from neighboring countries, such as Israel and Lebanon.
Speaking to InBusinessNews and analysing the potential impacts of geopolitical turmoil on the real estate sector, Christophorides notes that the Cypriot real estate market is calmly monitoring developments in the Middle East, without registering any indications of concern or panic that would affect its stability.
"Despite the burdened geopolitical environment due to the military conflict in Iran, buying and selling continue normally in our country. Although a normal decline was observed in the markets in the first few days, it is expected that we will soon return to normality," he says.
Cyprus continues to be a safe haven for investors
Furthermore, the CEO of Landbank Group emphasises that the experience of previous crises, such as Russia's invasion of Ukraine in 2022 and tensions in Lebanon, demonstrates the remarkable resilience of the real estate sector in Cyprus.
"Cyprus continues to be a safe haven for investors from neighboring countries, such as Israel and Lebanon, as investors from these countries see Cyprus as a safe haven," Christophorides notes, explaining that the purchasing interest is mainly focused on residential properties (apartments and houses), both for owner-occupancy purposes and for investment with the aim of renting them out.
The end of the war will be beneficial
Moreover, he adds that demand from abroad, combined with the limited stock of real estate, acts as a booster for prices, which are maintained at current levels without any compression tendencies, while, on the contrary, the maturation of Cyprus as a quality investment destination enhances the value of real estate.
It is important, at the same time, according to Andreas Christophorides, “to monitor the course of the prices of raw materials and construction materials, which may affect the construction cost,” explaining that the only certain thing is that the end of the war will have a positive effect, among other things, on the continuation of the upward course of real estate and the Cypriot economy more broadly.
(Source: InBusinessNews)
