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Cyprus residential property prices unlikely to fall any time soon
January 12, 2023
Cypriot fintech Ask WiRE CEO Pavlos Loizou, in an analysis piece examining the landscape of the domestic real estate market in the coming year, explained that residential property prices will most likely remain steady from the previous year, bolstered by elevated demand and a resilient economy.
Loizou recapped some of the global events that have a bearing on prices, including the European and Cypriot economies, who, at the end of 2021, experienced a gradual recovery following the Covid-19 pandemic and the adverse effects of the resulting measures, such as the lockdowns. In addition, he noted the stock market at the time saw record highs, while inflation was inching upwards.