Ioanna Charalambous: European market real estate trends and the 2023 transformation

Ioanna Charalambous, Director at PwC Cyprus, Real Estate Advisory, presented the developments and transformation of the real estate sector in 2023, at the 18th Land Development, Design and Construction Conference and Exhibition taking place in Nicosia on 27 March.

As she said, in light of the constantly changing global landscape, the Cypriot real estate market has embarked on its own transformation journey, and the industry’s stakeholders are fully aware of how important it is to reinvent themselves and remain up to date.

She said that based on PwC’s various reports, real estate transactions peaked in 2022, despite the geopolitical challenges, while in Europe, the emerging trends for 2024 will see an increase in mixed-use developments.

In 2023, Charalambous said the real estate market stabilised while the private sector stepped in to help deal with the supply/demand imbalance.

As for the local real estate sector, Charalambous said it was important for businesses to constantly transform their strategies and products, so the island can remain competitive and attractive.

The18th Land Development, Design and Construction Conference and Exhibition is presented by Altia, while PwC Cyprus is a Strategic Partner.

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