Cyprus is facing a housing crisis, as young couples are locked out of the property market by skyrocketing prices, while supply is quickly diminishing due to thousands moving to the island.
Almost 10,000 highly skilled and highly paid Ukrainian refugees have joined the island’s work force, paving the way for a number of socioeconomic and demographic changes to the structure of Cypriot society.
Ask Wire, combining real estate know-how with technology, has published its Q1 2023 edition of the Ask Wire Index for property sale and rental values. The Ask Wire Index covers all districts and main property types, with values from Q4 2009.
Conflicting Market Forces Affect Sales
March saw the second highest number of property sales in the month since records began in 2000. But these figures face conflicting market forces.