RICS Cyprus Property Price Index with KPMG in Cyprus announces results of 2024 Q4

KPMG in Cyprus announces that the 'RICS Cyprus Property Price Index with KPMG in Cyprus' has been issued for the fourth quarter of 2024.

On behalf of KPMG in Cyprus, Christophoros Anayiotos, Board Member and Head of the Real Estate Industry Group, stated, “The Index for the fourth quarter of 2024 shows stabilisation, a trend continuing from past quarters. Most asset categories show a minor or no changes in pricing, apart from Warehouses and Apartments, with changes in Paphos and Nicosia. Limassol, Larnaca and Famagusta recorded no increases, whilst retail recorded a minor decrease in pricing.

Rental values continue to rise, with a significant increase in Offices, followed by increases in residential assets, while at the same time, retail and holiday apartments have shown decreases. Overall, the Index reflects increases in rental values compared to previous years, although property yields have shown very marginal movements”.

On behalf of RICS, Simon Rubinsohn, RICS Chief Economist, commented, “The flatter trend emerging in the RICS Cyprus Property Price Index with KPMG in Cyprus is broadly consistent with the feedback garnered through the RICS Commercial Property Monitor which tracks sentiment in the real estate sector. Significantly, the metrics in the latter charting both investment enquiries and foreign buyer appetite now appear to be levelling off. That said, a largely resilient macro environment is continuing to provide a measure of support for the property market in the face of an increasingly uncertain geopolitical climate”.

The publication can be found here or on the RICS website.

About KPMG in Cyprus:

KPMG has been operating in Cyprus since 1948 and currently employs more than 800 professionals working from 6 offices across the island. 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 142 countries and territories and has approximately 275,000 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.