We are delighted to introduce the Neapolis Property Price Index (NPPI), a groundbreaking initiative by the Department of Real Estate at Neapolis University Pafos. This index is designed to serve a diverse set of needs, benefiting not just our academic community but also real estate professionals, investors, and policymakers.
Our index aims to be an impartial, credible, and up-to-date source of information that enhances market transparency and facilitates informed decision-making for both consumers and professionals. The department has chosen to base this index on actual property transaction data for its inaugural release. We believe that actual transaction data, as opposed to notional or appraisal-based indices, provide a more accurate and unbiased reflection of market realities. Actual transactions capture what buyers are willing to pay, and sellers are willing to accept, thus giving us a true snapshot of the market at any given moment. This is crucial for reducing biases, enhancing investor confidence, and aiding in more precise analytical and policy-related work.
Academically, the NPPI aims to provide a rich dataset for scholarly research in areas like property valuation methodologies, market trends, and housing policies. It offers an exceptional learning environment for our students, allowing them to gain hands-on experience in data analytics, market research, and property valuation. Industry collaboration is another key objective. We encourage and invite partnerships with real estate agencies, property valuers, and governmental organizations. We invite you to engage with this seminal project. Your feedback and collaboration are invaluable for its continuous improvement and success.
Last but not least, I would also like to extend a warm welcome and heartfelt thanks to Stelios Apostolidis, the newest member of our department. His expertise and dedication are invaluable additions that promise to enrich our academic and research endeavors.
Best regards and enjoy the index!