Apartments in Cyprus

With the property market in Cyprus having seen significant gains in value over the last five years, one needs to consider what this has meant to Young Cypriot Couples. It has pushed almost all new larger accomodation out of reach and the “affordable housing”, as we would say in the UK, is now in the apartment sector.

But as Antonis Louziou has pointed out in his article entitled Apartments for Young Couples the size provided by new apartments have diminished significantly. He provides all the facts and figures and says that the Town Planning Policy has changed to create minimum sizes.

Many apartments are designed and fitted out sparsely as holiday homes and I hope that this interesting and stimulating article by Antonis Louziou will focus developers on the needs of the home market rather than just those looking for buy to holiday let investment properties.

This is a very important issue for the Cyprus Property Market to digest and deal with as the Financial Mirror, Cyprus reports in respect of building permits that “the biggest growth by value has been in residential apartment blocks, up by 10.8% to CYP 300.4 mln, and residential/commercial mix apartment blocks, up by 17.9% to CYP 55 mln.”

My view is that the Cyprus Property Market should think carefully about servicing the needs of Young Couples as, perhaps, the investment market from overseas diminishes. But improving the size and facilities of apartments will surely appeal to both markets?

Cyprus Property Help & Advice Centre™ ® ©
The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu

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