Given ongoing market war-driven uncertainties & covid-driven challenges, 2022 will be a year full of contrasts & contradictions. According to ECB, Europeans will in the short term be confronted with higher inflation and slower economic growth. On the other hand, the real estate market remains on an upward trend and there are some indications that have already returned to pre-pandemic levels.

In 2022, the world still faces a difficult array of challenges such as the resurgent of COVID-19 pandemic, the inflation risks etc. However, from a dealmaking perspective, 2022 will be a busy & dynamic year for the island of Cyprus as we anticipate renewed cross-border activity & a steadily increased pace of deal activity at a domestic level.

Despite the global recession caused by the pandemic, house prices & rents continues its positive trajectory in the main markets of EU. According to Eurostat's findings, over the period 2010 until Q3 2021, rents increased by 16% and house prices by 39% across EU. In particular, house prices increased by 8.8% y-o-y in EU & 9.2% y-o-y in European Union during Q3 2021.
Greece experienced a deep recession since the end of 2009.