Instability expected in Cyprus real estate sector
Although it’s too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report.
While the first half of 2019 recorded a 25% increase over the corresponding period of 2018, Q3 2019 saw a 35% decrease in the total value of transactions, dashing hopes for further growth next year, according to a PwC report.
PwC’s ‘Cyprus Real Estate Market – First Half in Review‘ noted: “Even though it’s too early to make any conclusions, there are indications that there may be significant instability and uncertainty in 2020”. In comments to the Financial Mirror, PWC’s Constantinos Savvides said while Q3 results regarding the total value of sales are in sharp contrast with the first half of the year, the number of sales contracts has dropped only by 3%.
Read more at: https://www.news.cyprus-property-buyers.com/2019/11/24/instability-expected-cyprus-real-estate-sector/id=00157453
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