Cyprus is developing the real estate price index

The Royal Society of Chartered Surveyors (RICS) reported that the development of the Index on the Cyprus real estate prices (RICS Cyprus Property Index) is in the final stages of completion, and by the end of this month Index will be put into action. Now there is the formation of the real estate portfolio, which will be based on the calculation of the index, and experts and scholars engaged in the improvement of the methodology. The Index, which work on the creation of specialists from the University of Reading, will be considered the price of apartments, houses, offices, commercial and industrial real estate. "The price index for the Cyprus property market provides a level of transparency that can prevent an economic crisis like the one with which the world is facing now", - said President SEEOKK Leda Filippidu. Previously, the company BuySell conducted calculations on creating an index for residential real estate prices, but since March 2009 stopped their research in anticipation of the appearance of the official price index from the State Bureau of Statistics. On this Site www.news.cyprus-property-buyers.com