As more vaccines roll out by the summer of 2021, the predictions for the real estate market look positive. This year will create new opportunities for investments forecasting an explosion of pent-up demand for travel and leisure, producing a period of ‘growth’ which will accelerate in 2022 and as we move forward in the upcoming years.
For 2020 as a whole, real estate prices, as well as the number of sales contracts, decreased in Cyprus, mainly because of the consequences of the pandemic that caused national lockdowns and movement restrictions worldwide.
In addition, some of the biggest new investments include the ‘City of Dreams Mediterranean Casino Resort’, CYCLOPS, Del Mar, Hadassah Hospital Centre, Invel projects, the Ayia Napa Marina, Larnaca Port and Marina, large golf resorts, the ‘TRILOGY’, ‘BLUE MARINE’ etc.
Lastly, we are hopeful that 2021 will bring prosperity with new investments and opportunities for a better recovering real estate market. A better future with less restrictions and no traveling ban, is the way for the economy to heal again and move further into the future of