Figures Show Buyers Lean Towards Luxury Apartments In Limassol And Affordable Options In Nicosia

by THEFUTURE.TEAM

December 26, 2024

Between January 2019 and August 2024, apartment sales in Nicosia reached 13,415 units, with a total value of €2.1 billion, while Limassol recorded 13,092 apartment sales worth €5.1 billion, according to data from the Department of Lands and Surveys cited by Ask Wire.

The report highlights a clear distinction in buyer preferences: Limassol dominates the high-value luxury apartment market, with a sales volume almost nine times higher than Nicosia. Conversely, Nicosia leads in affordable housing transactions, with twice as many as in Limassol.

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In Limassol, 2,174 transactions in the €500,000–€5 million price range accounted for €2.6 billion during this period. For apartments in the €50,000–€200,000 range, Limassol saw 5,451 transactions worth €774 million.

Nicosia, however, excelled in the lower price bracket, with over 11,000 transactions in the €50,000–€200,000 range, emphasising its strong position in the affordable housing sector.

The data also reveals that as property prices rise, demand in Nicosia tends to decline, unlike in Limassol, where interest remains robust in the €201,000–€500,000 price segment.

Market Insights and Opportunities

Ask Wire CEO Pavlos Loizou noted that Limassol’s thriving luxury apartment market presents a significant opportunity for developers. By offering high-quality, diverse options, they can cater to international investors seeking exclusivity and an appealing lifestyle.

In Nicosia, the focus on mid-scale developments designed to meet the needs of local entrepreneurs and households provides a pathway for stable returns, reflecting the city’s strong position in the affordable housing market.

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European Central Bank Report Highlights Stable Inflation and Economic Outlook

by THEFUTURE.TEAM

October 29, 2025

Overview Of Inflation Trends

The latest European Central Bank survey shows a slight decline in median inflation expectations over the next 12 months, decreasing from 2.8% in August to 2.7% in September. Despite this minor adjustment, consumer perceptions of past 12-month inflation have held steady at 3.1% for the eighth consecutive month. Long-term projections for three- and five-year inflation remain stable at 2.5% and 2.2% respectively.

Consumer Expectations Drive Income And Spending Projections

Across the board, expectations for nominal income growth over the upcoming year have remained consistent at 1.1%. However, there is a noticeable shift in spending behavior: while perceived nominal spending growth for the past year slipped slightly to 4.9% from 5.0%, expectations for spending growth over the next 12 months rose to 3.5%. Notably, lower income groups continue to forecast marginally higher spending increases compared to their higher income counterparts.

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Stability In Economic And Labour Market Outlook

Economic growth expectations are modestly pessimistic, with respondents forecasting a contraction of -1.2% over the next 12 months. Concurrently, anticipated unemployment levels remain unchanged at 10.7% a year ahead, though the outlook varies by income, with lower income households expecting unemployment rates as high as 12.7%, while higher income groups maintain expectations around 9.4%. Overall, the slight difference between current and future unemployment suggests a broadly stable labor market outlook.

Housing Market And Credit Conditions

The survey also reveals an upswing in expectations related to the housing market. Home price growth expectations have edged higher to 3.5%, and anticipated mortgage interest rates have risen modestly to 4.6%. Similar to other metrics, expectations vary by income, with lower income households expecting higher mortgage rates. In recent months, a marginal decline in reported credit tightening over the past 12 months contrasts with a renewed forecast of tighter credit conditions in the forthcoming year.

Conclusion

The ECB’s latest findings underscore the delicate balance between stable long-term economic forecasts and short-term adjustments in consumer expectations. The slight dips in inflation expectations, alongside stable perceptions of past inflation, delineate a marketplace that is both cautious and measured. As income, spending, and housing market metrics continue to evolve, these indicators provide critical insights for policymakers and investors navigating an increasingly complex economic landscape.

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