Cyprus Economy & Real Estate Updates Q4 2020
We are delighted to welcome you to the twelfth edition of our Real Estate market report ‘Cyprus Economy & Real Estate Updates’. This publication provides general information about Cyprus economy as well as an extended analysis for the performance of the Real Estate sector during the year 2020, including but not limited to sales transactions activity, real estate price evolution, construction activity levels etc.
The COVID-19 pandemic is far more than a health crisis and has caused an unprecedented global shock with a material impact on Cyprus Economy and Real Estate Market. However, the extent to which the COVID-19 will affect our country’s Economy and Real Estate sector is still unknown and will largely depend on the duration and the severity of the global crisis as well as the economic response of the government. In general, we believe that in a low interest rate environment and with supportive government initiatives, the Cyprus Real Estate market will recover during the second half of the year while domestic demand for residential properties is expected to be the main contributor to growth.
With the world around us rapidly evolving, LGA continues to adapt to our client’s developing needs and aspirations for high quality service. Our professionals strive to consistently deliver levels of service and success beyond our clients’ expectations.
We hope you find the contents of the report interesting and valuable.