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How will property values change in 2019?

The Cyprus property portal Zyprus, which enables business to advertise their properties for sale and rent, has recently added a forecasting tool that helps owners of property assess how its value may change in 2019.

How will the value of your Cyprus property change in 2019?FOLLOWING the rising demand in the Cypriot property market, a question that naturally arises is how much will property prices in Cyprus change in 2019?

The Zyprus.com ZyForecast tool provides a starting point to gauge how much the price of the residential units by type (e.g. apartments, houses) will change in each Cyprus region. This analysis is based on a bespoke algorithmic model that utilizes numerous economic and housing data that might impact future residential values.

The results of the ZyForecast tool are summarized below:

Limassol

For Apartments in Limassol, it is predicted that for the year 2019 prices will rise by 6.63%, while the prices for Houses in Limassol are expected to increase moderately by 2.77%.

Paphos

Prices for Apartments in Paphos are expected to grow by 7.49% while Houses in Paphos are expected to grow by 1.90%.

Larnaca

The picture is different in Larnaca; Apartments in Larnaca are expected to show a lower annual trend of 3.57%. On the other hand, Houses in Larnaca are predicted to show a relatively strong rise of 4.73%.

Famagusta

On an annual basis, Apartments in Famagusta are predicted to grow by 2.57%, contrary to Houses in Famagusta where forecasting suggests a stronger increase by 4.99%.

Nicosia

Finally, an annual growth of 1.96% is expected for Apartments in Nicosia, while the projected annual growth for 2019 for Houses in Nicosia will be 1.81%.

A synopsis of the forecasting results reveals that for Apartments, Limassol and Paphos are expected to show the highest annual growth (6.63% and 7.49% respectively).

However, when it comes to the Housing market, the Zyprus.com ZyForecast tool predicts that Larnaca and Famagusta will show the highest pace of increase, by 4.73% and 4.99% respectively.

It is worth highlighting that overall, the output of the ZyForecast model expects that Cyprus property prices will not decline in any of the regions when it comes to Apartments and Houses.

How will the value of your Cyprus property change in 2019?

Readers' comments

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  • john robinson says:

    I think there are two issues to happen:

    1: Lower the 5% the estate agents want.

    2: Give us our title deeds.

    Ed: Although the majority of estate agents charge 5% (+VAT), some of them charge less – and you can always try to negotiate their fee. As for Title Deeds, we are still waiting for the government to deliver on its promise to resolve the Trapped Buyers’ Title-Deed-cum-Fraud mess. If past performance is anything to go by, don’t hold your breath!

  • Charalambos Petrou says:

    Kevin, Probavly you ignore the laws here in Cyprus relating with Properties. Zyprus connects you with the right properties of agents and developers without any extra charge to property shoppers. And in order to do so the license is needed. And that’s why Zyprus has a real estate agent license. And apparently is not a joke at all but rather it takes the Cypriot Real Estate to a next level and quite transparent one. For any further information you can call them your self directly to receive further clarifications without assuming wrongly!!

  • Kevin Fleary says:

    What a joke is this Zyprus thing! Pretending to be a portal! Admit that you are just an estate agent rather than cheating people!!!

    Ed: Zyprus.com is a property portal like Zoopla and Rightmove in the UK, and Zillow and Trulia in the US.

    Other portals in the UK include Purplebricks and easyProperty, but these have a different business model to Rightmove, etc.

    I understand that another part of the Zyprus Group is a registered estate agency.

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.

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