Apartments pushed up property prices in the third quarter of 2021 according to KTK data. Apartment prices increased by 1% on a quarterly basis and by 4.5% on an annual basis. The growth that continues this quarter to observed in apartment prices confirms once again, inter alia, the continuing preference of domestic buyers and investors for the apartments, in relation to the houses in most provinces of Cyprus.
According to the KTK analysis, preference in the apartment market as their first home households seem to have, due to the new data formed in the market and specifically due to its subsidy interest rate on mortgages by the state and the increase that is being observed in rental prices. It is reported that, the rise in cost of construction materials continues to contribute to increasing the prices, since it is now felt in all areas of construction activity.