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Property prices dropped in the second quarter of 2021 according to real estate data experts WiRE FS.

On a quarterly basis, prices for apartments fell by 0.14 per cent, for houses by 0.36 per cent, for commercial properties by 0.85 per cent, for warehouses by 0.33 per cent, for office spaces by 0.62 per cent, for holiday apartments by 0.38 per cent and for holiday houses by 0.95 per cent.

However, things were different in Limassol, where apartment prices continued to rise for the fourth quarter in a row (about 2.5 per cent in the second quarter of 2021), which compensates for the significant drop that was recorded in Q1 and Q2 of 2020.

On an annual basis, there was a significant drop in the prices of commercial properties and warehouses – 5.1 per cent and 4.0 per cent respectively.

On an annual basis, Paphos had the most significant drop in rental prices across all property types. The biggest drop was recorded for holiday homes and commercial properties, with 5.5 per cent and 8 per cent respectively.

The Cyprus Stock Exchange has announced that it has accepted the listing of 100,000 Treasury Bills.

The bills have a maturity of thirteen weeks and have a nominal value of € 1000 each, with a total value of € 100,000,000, resulting from an auction held on July 26, 2021.

The newly approved bills do not bear any interest.

Hellenic Bank shares rose by 5.33 per cent, reaching a price of €0.87 per share.

The rise in share value is seen as a reflection of the recent activity surrounding the bank, including Logicom’s recent purchase of 4,505,554 shares.

Moreover, the bank has also recently had its new CEO Oliver Gatzke approved by the European Central Bank.

“The experience and insights gained during this time will be utilised as we reshape Hellenic Bank to enhance shareholder value and deliver a more rewarding customer and employee experience,” Gatzke said after his appointment.

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