As the year comes to an end, we have a considerably better idea of how the property market performed in 2022. There have been a number of factors that have thrown a spanner in the works, with the rising cost of living and inflation being a real influence. However, Cypriot real estate has channeled nearly €4billion back into the economy this year.
Paphos is a favourite among foreign homebuyers in Greece. In fact, over 50% of readers in our most recent Greece homebuyers survey told us that Paphos is top of their list for home locations in Cyprus.
Cyprus currently appears to be particularly sheltered from excessive cost of living rises. There have been increases that Cypriot consumers find eyewatering, especially since basic consumer salaries remain particularly low. This article explains the present situation and current government plans to help.
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