Fall in real estate prices in Cyprus will be in 2014-2015. The cost of residential buildings will decrease by 30-35%, and commercial buildings will drop by 18-22%, informs portal Cyprus Property News referring to the report of Leaf Research.
According to the forecast, the prices of apartments in the city center and other areas of Cyprus will be reduced by 15% in the next two years, as in the secondary real estate and tourist areas (-15%, -10%). Experts believe that the property market in Cyprus will bottom in 2015-2016.