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Prices of houses and flats further accelerated in the first quarter of 2017, figures released by the RICS’ Cyprus Property Price Index published yesterday. 

Throughout Cyprus, residential prices for both houses and flats increased on a quarterly basis by 2.3% and 1.3% respectively, with the biggest increase recorded in Larnaca, 4.6% for flats and 2.8% for houses. 

Prices for holiday homes on a quarterly basis across Cyprus increased by 1.7% for flats and 1.3% for houses.

Limassol showed the highest quarterly increases for holiday apartments with an increase of 2.9% and Paralimni for holiday homes with an increase of 2.1%. 

Across Cyprus, on a quarterly basis rental values increased by 2.5% for apartments, 2.6% for houses, 1.6% for retail, 4.6% for offices while for warehouses they remained stable. 

Compared to Q1 2016, rents increased by 5.5% for flats, 9.6% for houses, 6.3% for retail, 3.1% for offices and for warehouses 11%. 

All asset classes have shown a consecutive quarterly growth.

Source: Stockwatch