12° Nicosia,
08 February, 2023

RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q1-Q3 2021

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

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.

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.


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