Property Prices Increase Significantly In Q3 2017

Property Prices Increase Significantly In Q3 2017

An increase of 7.4% in apartment prices and 4.2% in house prices on an annual basis was recorded by RICS’ Cyprus Property Price Index.Across Cyprus, on an annual basis (compared to Q3 2016), the price of flats increased by 7.4%, houses by 4.2%, offices by 8.8%, warehouses by 4.4% and retail by 4.5%.The Property Price Index has recorded increases on an annual basis in all ...
Real Estate Friday, 23 February, 2018
Paphos, The Champion In Sales To Overseas Property Buyers In 2017

Paphos, The Champion In Sales To Overseas Property Buyers In 2017

Paphos had the lead in purchase contracts to foreign buyers in 2017 by 36% in comparison to Limassol which follows by 33,5%. Larnaca is third with 16% and lastly Famagusta with 7,5 % and Nicosia with just 7%. Property Sales in Cyprus rose 24% during 2017 (the highest number since 2008) according to official statistics published by the Department of Land and Surveys. This follo...
Real Estate Wednesday, 14 February, 2018
Eden City Moving Forward

Eden City Moving Forward

A propsed 3.4 billion development project in Geroskipou in Paphos has finally been given a partial green light after protracted delays. Eden City, a project by Hungarian investor Atum Developments, is headed up by Sandor Kenyeres, and includes the construction of an artificial ‘luxury lifestyle’ island, a university, five-star hotel-resorts, multi-floor towers...
Real Estate Thursday, 01 February, 2018
Cybarco to Launch Trilogy Limassol Seafront

Cybarco to Launch Trilogy Limassol Seafront

Limassol’s ever-changing story is preparing to reveal a ‘trilogy’ on the seafront’s most premium location. Now in its pre-launch phase, Trilogy Limassol Seafront is an exciting new chapter for established developer Cybarco, with a success story spanning over 70 years. A statement of high living in the heart of the city’s affluent waterfront, it bui...
Real Estate Tuesday, 26 December, 2017
Parliament approves VAT on building land

Parliament approves VAT on building land

The new bill imposing VAT on building land has been approved by parliament and will come into force on 2nd January 2018 some ten years after the deadline set by the European Union. Parliament on Friday (3/11/2017) approved a bill imposing 19 per cent VAT on the sale of building land, fulfilling an EU condition some 10 years after the original deadline.The bill passed with the ...
Real Estate Tuesday, 07 November, 2017
Vote imposing VAT on land sales postponed

Vote imposing VAT on land sales postponed

A vote by the Cyprus government on a bill to impose 19 percent VAT on land sales (building and development plots) has been postponed until September; the draft bill will be sent to the EC. The legislation concerns the imposition of VAT on land sales for commercial property transactions. On acceding to the EU in 2004, Cyprus was granted a derogation from the relevant VAT direc...
Real Estate Tuesday, 11 July, 2017
Property prices in Cyprus continue falling, latest RICS index shows

Property prices in Cyprus continue falling, latest RICS index shows

Residential property prices in Cyprus continued to fall in the final quarter of 2014 but some local agents are reporting an increase in sales. Average price of houses fell by 1.1% and apartments by 0.7%, according to the latest index from the Royal Institute of Chartered Surveyors (RICS).  The country’s property market was particularly badly hit during the global e...
Real Estate Sunday, 13 December, 2015
November property transactions rise 21% boosted by external demand

November property transactions rise 21% boosted by external demand

For a third consecutive month, the number of property transactions rose 21 per cent to 446 in November compared to the respective month of 2015, boosted by increased sales in coastal districts amid rising external demand, the department of lands and surveys said. A total of 137 properties changed hands last month in Limassol alone, which was 33 per cent more compared with the ...
Real Estate Wednesday, 09 December, 2015