The Cyprus real estate market, based on its sturdy economy, has so far resisted the negative consequences of the global credit crunch. According to a recent survey by the Royal Institution of Chartered Surveyors (RICS) on the second quarter of 2008, Cyprus is one of the few countries that displayed strengthening tendencies during this period.
The latest RICS Global Commercial Property market survey confirmed that Cyprus was one of the few economies which showed strengthening trends into the second quarter of this year. Tenant demand expanded at the fastest pace of any country within western Europe as a still robust economy underpinned demand for business space. Furthermore, rental expectations remained positive into Q3.
