KPMG in Cyprus announces that the ''RICS Cyprus Property Price Index with KPMG in Cyprus'' has been issued for Q1 – Q3 of 2021.
On behalf of RICS, Simon Rubinsohn, RICS Chief Economist, commented: ''The latest results of the RICS’ Cyprus Property Index with KPMG shows that the real estate market in general is continuing to pick-up reflecting the more positive macro-economic indicators with GDP growth exceeding 5% in the third quarter of the year. Residential is unsurprisingly showing the greatest strength with commercial real estate a little more sluggish in the recovery but if the economic numbers continue to maintain the current momentum, it is likely that the impact will be increasingly visible across all sectors''.
On behalf of KPMG in Cyprus, Christophoros Anayiotos, Board Member and Head of Real Estate Sector, stated: ''The RICS Cyprus Property Index with KPMG has shown that real estate transactions are continuing strong and picking up since the beginning of the pandemic. As expected, residential properties are at the forefront and the preference for most investors. Further, retail property is facing a downturn, whilst office and warehouse demand are facing fluctuations. Lastly, it appears that holiday home seekers were more active in Q1, with Q2 being the lowest of the three quarters examined. However, given the optimistic economic indicators, it is likely that the positive outlook of real estate transactions could continue''.
The publications can be found on the RICS website https://www.rics.org/uk/news-insight/research/market-surveys/cyprus-property-price-indices/
About KPMG in Cyprus
KPMG has been operating in Cyprus since 1948 and currently employs more than 850 professionals working from 6 offices across the island (Nicosia, Limassol, Larnaka, Pafos, Paralimni and Polis Chrysochous). It is a member of KPMG International Limited, a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG operates in 146 countries and territories and has approximately 227.000 people working in member firms around the world. Clients look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight, local knowledge and expertise.
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