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A. Average Sale Prices for 2006*
| |
Cyprus |
Nicosia |
Limassol |
Larnaca |
Famagusta |
Paphos |
|
Detached House 2bdr |
£131,000 |
£147,000 |
£146,000 |
£124,000 |
£122,000 |
£142,000 |
|
Detached House 3 bdr |
£181,000 |
£169,000 |
£189,000 |
£161,000 |
£156,000 |
£201,000 |
|
Detached House 4 bdr |
£293,000 |
£311,000 |
£314,000 |
£259,000 |
£258,000 |
£324,000 |
|
Semi-detached 2 bdr |
£102,000 |
£109,000 |
£99,000 |
£91,000 |
£88,000 |
£98,000 |
|
Semi-detached 3 bdr |
£127,000 |
£140,000 |
£138,000 |
£122,000 |
£109,000 |
£128,000 |
|
Semi-detached 4 bdr |
£177,000 |
£161,000 |
£166,000 |
£154,000 |
£195,000 |
£178,000 |
| Studio |
£47,000 |
£50,000 |
£47,000 |
£42,000 |
£41,000 |
£48,000 |
|
Apartment 1 bdr |
£51,000 |
£54,000 |
£51,000 |
£46,000 |
£45,000 |
£53,000 |
|
Apartment 2 bdr |
£79,000 |
£85,000 |
£80,000 |
£70,000 |
£69,000 |
£82,000 |
|
Apartment 3 bdr |
£91,000 |
£96,000 |
£83,000 |
£79,000 |
£77,000 |
£95,000 |
* Based on a
sample of 1,000 properties across Cyprus. Prices rounded to the nearest
thousand.
B. Average Rental Prices for
2006*
| |
Cyprus |
Nicosia |
Limassol |
Larnaca |
Famagusta |
Paphos |
| Studio |
£200 |
£240 |
£220 |
£200 |
£170 |
£170 |
|
Apartment 1 bdr |
£240 |
£300 |
£250 |
£240 |
£200 |
£210 |
|
Apartment 2 bdr |
£290 |
£340 |
£310 |
£300 |
£245 |
£255 |
|
Apartment 3 bdr |
£355 |
£400 |
£360 |
£350 |
£290 |
£300 |
* Based on a
sample of 1,000 properties across Cyprus. Houses are not included since
they are not recommended for "buy to let" investment - annual
rental return is usually less than 4%. Prices are rounded.
C. Average Annual Rental Return for
2006*
| |
Cyprus |
Nicosia |
Limassol |
Larnaca |
Famagusta |
Paphos |
| Studio |
5.9% |
6.2% |
6.5% |
6.7% |
5.4% |
4.7% |
|
Apartment 1 bdr |
7.0% |
8.2% |
6.7% |
8.0% |
6.5% |
5.6% |
|
Apartment 2 bdr |
5.0% |
5.5% |
5.0% |
6.0% |
4.6% |
4.3% |
|
Apartment 3 bdr |
5.3% |
5.6% |
5.9% |
6.1% |
5.2% |
4.9% |
| Average |
6.0% |
6.7% |
6.0% |
6.7% |
5.4% |
4.9% |
* Based on data
from table A & B above.
The conclusion is that 1
bedroom apartments offer the best annual return - an average of 7%. As far
as towns Nicosia* & Larnaca** are leading with an average of 6.7% and Paphos*** is
last with 4.9%.
*
Nicosia not only is the
capital and the largest town in Cyprus but also has many universities and
colleges that lead to an increase in demand for rental properties.
** Larnaca has good
rental return due to the fact that the property prices are lower than
other towns.
** Paphos even though it
has higher rental rates than Famagusta the rental return is
lower due to the fact that properties in Paphos are more expensive.
Tel: +357-7777-7067, +357-22-760051 / Mob: +357-99-686618 / E-mail :
info@cyprus4properties.com
2007 ®
Cyprus
4 Properties
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