There is a lot of discussion about what is more beneficial to the taxpayer – to build or rent government offices or even buy ready office buildings from the open market. Some uninformed reports blow up the rental payment issue out of all proportion in the sense that the government is spending €26 mln a … Read more
Office rental rates in Cyprus have reached the highest levels in five years, with prices increasing by about 8.5% year-on-year in the first quarter of 2024. Limassol and Larnaca are leading the way in office rental price increases, with Nicosia showing a steady recovery. Prices for office sales have remained at 2023 levels, with increases recorded in Larnaca and Famagusta district. The demand for modern, Grade A offices is expected to continue throughout 2024, driven by both the private and public sectors.