The issue of holiday homes in Protaras is stagnant as analysts estimate that there will be no particular changes in prices, which continue to show the same rate for the same 2-3 years.
According to the President of the Real Estate Registration Council, Marino Kynageirou, the main interest in buying holiday homes in Protaras has been shown in recent years by investors from Lebanon and China. However, the period we are going through is particularly difficult "as the housing market by foreign investors has been severely affected by both the general concerns and fears about the outbreak of the coronavirus and the social and political crisis plaguing countries such as Lebanon "pointed out Mr. Kynageirou.
However, in terms of demand from locals, according to the CEO of Total Valuations Mr. Poly Kourousidis, there is increased interest from residents of Nicosia province, while recently there is increased demand for development of projects in the area and are already underway 4-5 projects, which aim at the final creation of 100-150 houses, by the summer of 2020.
Finally, in terms of prices, as mentioned above, no particular changes are expected and range from 200,000 (for the purchase of an old house of about 12-15 years) to 400,000, on average. In addition, the location of a house also plays an important role, since as it is logical, the closer it is to a sea area, the more expensive it is with prices approaching half a million euros.
Source: economytoday.sigmalive.com