Housing prices in Cyprus increased by 2.5% in Q2 2024

The Cyprus Statistical Service released data for the Housing Price Index (HPI) for the second quarter of 2024. The index shows a 2.5% annual growth in housing prices, highlighting a steady interest in the Cypriot real estate market, driving prices up.

Key housing price growth indicators

The second quarter of 2024 saw a notable rise in property prices, covering both apartments and houses. Year-on-year, the growth reached 2.5%, indicating a stable increase in housing value in Cyprus. Compared to the first quarter of 2024, the index also showed a 1.2% rise.

About the Housing Price Index

HPI is a quarterly indicator tracking average price changes for residential properties. It includes all types of real estate, from new developments to resale properties, allowing for a comprehensive analysis of housing price trends in Cyprus.

The index enables professionals and investors to assess the current housing market and forecast key trends. Regular updates help provide an objective evaluation of the real estate sector and its future outlook.

For investors, the HPI data for the second quarter of 2024 confirms that the real estate market in Cyprus is developing steadily and confidently. Strong demand is driving further price increases, making property purchases in Cyprus an excellent option for those seeking profit through asset appreciation and secure investments.

The high interest in Cyprus real estate is also attributed to several key advantages. Cyprus offers favorable business conditions, including significant tax benefits. Additionally, Cyprus provides attractive residency programs, making it particularly appealing to foreign investors.

Furthermore, Cyprus boasts a comfortable climate, high levels of safety, and well-developed infrastructure, making it a popular destination not only for investment but also for personal living.

Investing in property in Cyprus can be an effective way to safeguard capital while accessing a dynamic market where demand and asset value continue to grow.

By turning to Feod Group, you receive comprehensive legal services that allow you to invest in Cyprus real estate with confidence and security.

Our office in Larnaca is always ready to provide consultations and professional legal assistance to help you achieve your investment plans in Cyprus!