Residential Property Price Developments and (Mis)alignments in Cyprus

ByRobert C. M. Beyer, Nina Biljanovska

July 7, 2023

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Summary

Residential house prices in Cyprus show no signs of overvaluation in international comparison, and various indicators confirm that prices are aligned with economic fundamentals. However, still-high household debt poses a risk. Regional disparities raise some concerns about affordability, notably in Limassol, calling for supply-side measures to increase housing supply.

Subject: Financial crises, Financial institutions, Housing, Housing prices, International organization, Land prices, Monetary policy, Mortgages, National accounts, Prices

Keywords: C. debt vulnerability, Cyprus, default probability, Global, house price trend, household debt, Housing, Housing Debt, Housing prices, Land prices, Limassol, Mortgages, property price development, Residential Housing Prices

Pages:
13
Volume:
2023
DOI:
https://doi.org/10.5089/9798400247811.018
Issue:
043
Series:
Selected Issues Paper No. 2023/043
Stock No:
SIPEA2023043
ISBN:
9798400247811
ISSN:
2958-7875

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