The Real Estate Market Report provides an overview of the major economic factors affecting the industry as well as a summary of the recent trends and activity.
The Cyprus economy has experienced positive growth rates in 2015 and the expectations are that this trend will continue in 2016. Fiscal indicators are improving, the yields of the Cyprus Bonds have been reduced, while the interest for investments is rebounding. As the Cyprus economy is entering a path of recovery, the Economic Adjustment Programme entered into in March 2013 is near to its completion in spring 2016. However, there are still challenges that need to be addressed such as the high levels of non-performing loans and unemployment.
Confidence in the real estate market seems to be improving. In particular,in 2015 the total property deeds of sale increased by 10% compared to 2014, whereas the interest of foreign investors in the real estate market keeps growing, since over one quarter of these transactions involved overseas residents.
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