Cyprus real estate market review
PwC Cyprus ‘Cyprus Property Market – Overview 2020′ provides an overview of the Cyprus economy as a whole and presents the key developments in the property market in 2020.
PwC reports that the real estate and construction sector continues to be one of the key pillars of the Cyprus economy, contributing 17% to Cyprus’ gross value added (GVA) in 2020.
Despite the changes triggered by the pandemic and the sudden termination of the Citizenship by Investment Scheme (also known as the Golden Passport) in early November, the sector’s GVA output fell slightly (1%) during 2020, highlighting the sector’s resilience and importance to the economy. Cyprus in general.
The above is for informative purposes only. Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.