Foreword
We are pleased to present the latest edition of our real estate sector performance report, providing a comprehensive overview of the Cypriot economy and real estate market amid ongoing regional challenges, including Middle East instability and the Russia-Ukraine conflict. Despite these obstacles, the sector has shown resilience and growth in specific sectors. This report covers key economic indicators, demand and supply dynamics, price trends, and major developments, offering insights into the conditions of 2023 and mid 2024. We hope it serves as a valuable tool for your strategic decision-making, and we welcome any questions or additional requests for KPMG's tailored real estate advisory, audit, and tax solutions.
Christophoros Anayiotos
Board Member and Head of the Real Estate Industry Group
This report provides a comprehensive overview of the current state of the Cypriot economy and the local real estate market. It offers critical insights reflecting the conditions of 2023 and the first half of 2024. While uncertainties persist, the overall strong performance of the real estate sector reaffirms its adaptability and potential for growth. Through this report we aim in reinforcing our commitment to supporting clients with insights and solutions that drive informed, impactful decisions in these dynamic times.
Christos V. Vasiliou
Managing Director of KPMG in Cyprus
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