Cyprus apartments 'among the cheapest in Europe'

Article Date : 08 June 2007

Apartments in Cyprus are among the cheapest in Europe, it has been reported, with investors likely to be attracted to the region as a result.

The Global Property Guide examined apartment prices in almost 50 cities across Europe, and found that Limassol's average apartment rent came in at just €2,167 per square metre.

Such prices were in comparison to an average rent per square metre of €24,9000 in Monaco.

However, rental yields in Limassol compare favourably to those in Monaco, the study revealed, with 4.38 per cent in the Cypriot capital outperforming the 2.43 per cent found in Monaco.

Residential property prices rose by 9.1 per cent year on year in May according to the BuySell Home Price Index, it was revealed earlier this week. Monthly increases stood at 1.8 per cent – the fifth consecutive month in which a rise in prices has been recorded.

The index has risen by an average of 9.3 per cent year on year in 2007, compared to 5.9 per cent in 2006, the Financial Mirror has advised.

Cyprus apartments 'among the cheapest in Europe'

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