Cyprus: Real Estate Market 2018 - 2019
By Panos Danos, Danos Group January 07, 2019
- Cyprus is seeing new office developments to accommodate expanding local and new International companies
- Increasing demand for Grade A office premises
- Government incentives are stimulating investment for development sites and income producing assets
- Residential Rents are on the rise
Increasing demand for Grade A office premises
Nicosia, being the capital and financial centre of Cyprus, is home to the public sector and most of the large businesses operating on the island. Traditionally, office space in Cyprus is found in the old common type multi-storey buildings which are mainly located in the heart of the cities. However, in recent years a trend for decentralization began to occur. During 2018, the office market in Cyprus remained stable. In 2019 Grade A offices will be sought-after that are found in CBD and decentralized main areas.
Government incentives are stimulating investment.