|Last Updated: Aug. 30, 2012|
|NICOSIA - Apartments||COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|75 sq. m.||141,300||560||4.76%||1,884||7.47|
|120 sq. m.||199,560||642||3.86%||1,663||5.35|
|200 sq. m.||373,400||1,076||3.46%||1,867||5.38|
|LIMASSOL - Apartments|
|75 sq. m.||180,150||672||4.48%||2,402||8.96|
|120 sq. m.||268,560||780||3.49%||2,238||6.50|
|200 sq. m.||458,400||1,370||3.59%||2,292||6.85|
|PAPHOS - Apartments|
|60 sq. m.||85,200||312||4.39%||1,420||5.20|
|90 sq. m.||138,510||384||3.33%||1,539||4.27|
|120 sq. m.||157,440||464||3.54%||1,312||3.87|
|LARNACA - Apartments|
|60 sq. m.||115,080||433||4.52%||1,918||7.22|
|90 sq. m.||175,770||485||3.31%||1,953||5.39|
|120 sq. m.||188,760||614||3.91%||1,573||5.12|
|Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule|
Prices of apartments in Cyprus fell by 5.15% during the year to end – Q2 2012, according to the latest report of Central Bank of Cyprus. This is roughly in line with the latest survey of the Global Property Guide, which found that average square metre (sq. m.) prices of apartments all throughout Cyprus, fell by 6.6% during the year to August 2012.
Limassol is the most expensive district. This is followed by Nicosia and Larnaca, whose sq. m. prices are close to each other. Paphos is the cheapest district to buy apartments.
The average price per sq. m. of a 120 sq. m. apartment in our covered districts is as follows:
The average rental yield throughout Cyprus is around 3.90%. This is close to the Royal Institute of Chartered Surveyors’ (RICS) latest property report, which recorded an average rental yield of apartments at 3.8%.
In our survey, the levels of gross rental yields in the four districts are about the same, ranging from 3% -ish to 4%-ish. Smaller apartments tend to earn higher rental returns, in each of the four districts.
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