EC: Real estate activity in Cyprus to slowdown in medium term

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EC: Real estate activity in Cyprus to slowdown...
 © In-Cyprus 2020
Real estate activity in Cyprus is set to slowdown in the medium term, according to the European Commission’s semester report released on Wednesday.

The registration of contracts for property sales considerably decelerated during the second half of 2019, 0.7% year-on-year, compared to 24.4% in the first half, it said.

This possibly reflects the slowdown of applications for the investor citizenship scheme and points to a modest expansion of the sector in the near term as there is only a slight upturn in domestic demand, it added.

A possible slowdown in foreign demand...


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EC: Real estate activity in Cyprus to slowdown in medium term


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Article Tags: estate, activity, cyprus, slowdown, medium,