Property Canvas - Paphos Properties for sale and rent

Chinese investors still wooed by Cyprus passports

THE SOUTH CHINA MORNING POST REPORTS THAT CHINESE INVESTORS ARE SEEKING CYPRUS PASSPORTS DESPITE THE STRICTER CRITERIA INTRODUCED LAST MONTH FOR THOSE SEEKING CYPRIOT CITIZENSHIP. Chinese investors are thronging the sunny shores of Cyprus in search of property and passports that will allow them to work, travel and live in the European Union. “Cyprus is a beautiful place ...

Local Saturday, 20 July, 2019

Interior minister calls for a comprehensive migration solution

INTERIOR Minister Constantinos Petrides called Thursday for the need for a comprehensive solution for effective management of migration flows to the EU, pointing out the disproportionate migratory pressures on Cyprus. Speaking during the informal Justice and Home Affairs Council meeting in Helsinki, Petrides also rejected a Franco-German proposal to create a central Mediterran...

Local Friday, 19 July, 2019

Where Law and Real Estate Meet

Cyprus has become over the years an attractive destination not only for holidays due to the climate but also for investors, as Cyprus is especially tempting among others, for its location, the high standard of living, the friendly people and the successful scheme of citizenship. EU nationals can purchase real estate in Cyprus without any restrictions, while non-EU nationals are...

Local Thursday, 18 July, 2019

The EC Launches the Awareness Campaign ‘YOU’RE RIGHT’ (#YourEURight) on Consumer Rights

DG Just (The Commission's Directorate-General for Justice and Consumers is responsible for EU policy on justice, consumer rights and gender equality) implements the ‘YOU’RE RIGHT’ (#YourEURight) awareness campaign on consumer rights, to empower consumers so that they can make informed purchasing choices. As technology advances, consumers need even more clear,...

Local Wednesday, 17 July, 2019

Choosing the right home insurance among a growing number of players

Given the rising demand for home insurance, which was up by 6.9 per cent in the first quarter of 2019, people should be aware of certain factors in order to choose the right policy. The Cyprus insurance sector has in recent years been marked by impressive growth rates, which now surpass pre-crisis levels. Contained within the rising figures are increasing numbers of people who...

Local Tuesday, 16 July, 2019

Law allows Brits to live in Cyprus in case of no deal Brexit

The plenum on Friday unanimously passed legislation regulating the right of UK nationals and their families to move and reside freely in the Republic of Cyprus in the event of a no-deal Brexit. The law establishes the legislative framework for the safeguarding of the right of UK nationals, including citizens of Northern Ireland, to remain or to choose to reside on the Republic...

Local Friday, 12 July, 2019

Energy saving measures grant scheme

There are opportunities for those living in Cyprus to the reduce their energy costs through a new energy saving scheme that encourages the use of renewable energy sources and energy saving in households. There are opportunities for those living in Cyprus to the reduce their energy costs through a new energy saving scheme that encourages the use of renewable energy sources and ...

Local Thursday, 04 July, 2019

Estia scheme for vulnerable homeowners approved

The cabinet has approved the debt relief scheme (Estia) designed to support and protect vulnerable homeowners; eligible borrowers will apply in September – first payments expected in December. THE LONG-AWAITED debt relief scheme (Estia) for vulnerable homeowners was approved by the cabinet on Wednesday and is expected to be fully implemented by the end of the year, Finan...

Local Friday, 28 June, 2019

RYANAIR BECOMES No1 CYPRUS AIRLINE, ADDS NEW ROUTES 25 ROUTES (7 NEW) FOR 2019, 1.2M CUSTOMERS P.A

Ryanair, Europe’s No.1 airline, today (26 June) confirmed it will continue to grow in Cyprus next winter and will deliver a total of 1.2m customers annually at Larnaca and Paphos airports, a 30% increase year-on-year. Ryanair expanded its 2019/2020 winter schedule, and will deliver 25 routes in total including 7 new routes from Paphos. Continued growth in Cyprus has put ...

Local Thursday, 27 June, 2019

Residential property values based on rents today

In quite general terms, the use of the rental capitalization method for the valuation of an income producing property is based on the rental value of the property capitalised by the appropriate rate (cap rate) based on the yield.  CYPRUS has had an increase in property rental prices (an issue which is largely discussed throughout media these days) during the last few mont...

Local Wednesday, 26 June, 2019

Cyprus’ Borrowing Cost Continues Downward Trend

The borrowing cost of the Republic of Cyprus is continuing its downward trend, as the ten-year bond yield has fallen to historically low levels in recent months, the Cyprus News Agency reports.   The 10-year Cypriot bond with a 2.38% coupon issued in September 2018 hit a new historic low of 0.824%, from 0.92%, 10 days ago. The yield of the 10-year bond fell by 51.2 basis ...

International Tuesday, 18 June, 2019

Cyprus property sales at eleven year high

Cyprus property sales in April reached the highest monthly figure recorded since September 2008 following a 61 per cent surge according to official figures from the Department of Lands and Surveys. APRIL saw a sharp rise in Cyprus property sales compared to the numbers sold in the corresponding month last year, with the number of contracts deposited at Land Registry offices up...

Real Estate Tuesday, 04 June, 2019