Cyprus (Greek) » Outlook

International Property Brokers forecast that the GDP growth will fall from an estimated 3.7% in 2005 to 3.3% in 2006, before rising again to 3.5% in 2007.

Our forecast for inflation of 2.4% in 2006 as a whole. Private consumption growth is expected to recover moderately in 2006-07, backed by strong growth in the labour-cost-intensive professional services industry and, more generally, healthy wage growth.

Construction investment will still be boosted by low interest rates and continued demand for holiday homes from overseas clients.