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Property prices to fall say 80%

More than 50% of those who voted in a recent poll conducted by the Cyprus Property Magazine believe that real estate prices will fall by more than 10% during 2009.

A RECENT mini-poll conducted by the online Cyprus Property Magazine revealed that nearly 80% of those who voted believe that property prices will continue to fall during 2009. While only 1 in 10 believe they will increase, more than 50% believe they will decrease by more than 10%.

Cyprus Property Price Change in 2009 - Poll Results

Cyprus Property Price Change in 2009 - Poll Results

Reflecting the stagnant property market, Capital Gains Tax receipts plummeted 82% in the first four months of the year to €21.3 million compared to last years figure of €116.2. Stamp Duty and Immovable Property Tax receipts also fell.

For the latest poll “Are you planning to buy property in Cyprus this year?” go to the Cyprus Property Magazine and check out the ‘Have Your Say’ poll in the right hand column.

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