Rental prices and rates stop rising

As for apartments and vacation homes, sales values increased by 1.8% and 1.5% respectively.

In terms of rental value

In terms of rental value, compared to the first quarter of 2022, there is an increase of 19.0% for apartments, 12.2% for houses, 3.3% for retail, 1.0% for warehouses, 7.5% for offices, 19.1% for vacation apartments and 14.5% for vacation homes. On a quarterly basis, rental values increased 2.6% for apartments, 1.5% for houses, 0.7% for retail, 0.8% for offices and remained stable for warehouses.

With regard to apartments and vacation homes, rental values increased by 2.3% and 1.3%, respectively.

The CEO of Ask Wire, Pavlos Loizou, commented on this, saying: "The rise in real estate and rental prices is showing signs''slowing down, after significant growth since the beginning of 2022, mainly in Limassol, Paphos and Larnaca. "The combination of high interest rates and high prices/rents has created a ceiling and the market remains broadly stable but at a high level.