Property Canvas - Paphos Properties for sale and rent

Construction of new homes doubles

The number of building permits authorised in December 2019 provided for the construction of more than twice as many new homes as those authorised in December 2018 according to official figures. The construction of 1,107 new homes was authorised in December 2018 compared to the 504 authorised in December 2018 according to official statistics from the Cyprus Statistic...

Real Estate Friday, 20 March, 2020

The European Commission Presents New Industrial Strategy For A Globally Competitive, Green And Digital Europe

The European Commission presented a new strategy to help Europe's industry lead the twin transitions towards climate neutrality and digital leadership. The strategy aims to drive Europe's competitiveness and its strategic autonomy at a time of moving geopolitical plates and increasing global competition. The package of initiatives outlines a new approach to European industrial...

International Wednesday, 11 March, 2020

Standard & Poor’s affirms Cyprus’ growth prospects, highlights risks from virus

Standard & Poor’s Global Ratings affirmed on Friday its `BBB-/A-3′ long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable outlook.According to the report, the stable outlook incorporates Cyprus` robust growth prospects, improving public debt dynamics, and track record of running budgetary surpluses. It also takes into acc...

Business Monday, 09 March, 2020

Strong growth in construction continues

The strong growth in the Cyprus construction sector continued in November with building permits authorised for the construction of 909 new homes according to official statistics from the Cyprus Statistical Service. THE CYPRUS construction sector maintained its strong growth in November 2019 with 707 building permits issued compared to 597 in November 2018, an increase of 18.4%...

Local Thursday, 27 February, 2020

The Cyprus’s Real Estate Market At Full Speed. What Next?

Residential and Commercial real estate are at an all-time full speed in a relentless “development arena” that seems to ignore everything that took place in 2013. It’s a new era in Cyprus’ real estate history, close to surpassing in prices and quantity the 2008 all-times high.  How long can this go on and are we at the peak yet? Certainly, it&rsquo...

Real Estate Wednesday, 26 February, 2020

Law Regulating Airbnb Rentals In Cyprus is Finally Enacted

On Friday 17/01/2020, the House of Representatives passed a new law, N. 9(I)/2020 (also “the Law”), regulating the registration and operation of self-catering accommodation, which was subsequently published in the Government’s official Gazette on 7th February 2020. The Law is directed at operators currently utilizing online platforms such as Airbnb and B...

Real Estate Tuesday, 25 February, 2020

Nicosia among top small European cities of the future

Nicosia has been named as the top small European city of the future for human capital and lifestyle, Invest Cyprus said on Thursday. The capital was also ranked among the top 10 small European cities of the future for foreign direct investment (FDI) strategy, reflecting the island’s increased efforts to attract inward investment. The annual list by FDI magazine, publish...

Local Monday, 24 February, 2020

New Study: AI Helps Organizations Grow Profits 80 Percent Faster

Organizations that are adopting Artificial Intelligence (AI) and other emerging technologies in finance and operations are growing their annual profits 80 percent faster, according to a new study from Enterprise Strategy Group and Oracle. The global study, Emerging Technologies: The competitive edge for finance and operations, surveyed 700 finance and operations leaders across ...

Business Friday, 21 February, 2020

New rent law provides grey areas

It was pleasing to hear that, after three postponements, Cyprus MPs have finally voted in the much-awaited amendment to the rent law. The pros of the amendment are the following: First, the House has exhibited the courage to touch upon this law. Second, MPS have included an amendment introducing e-notifications allowing notifications to be delivered faster to defendant ten...

Real Estate Thursday, 20 February, 2020

Highest Volume of Tourist Arrivals Ever Recorded For The January Period

On the basis of the results of the Passengers Survey released by Cystat, arrivals of tourists reached 85.622 in January 2020 compared to 81.970 in January 2019, recording an increase of 4,5%. January 2020 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month. Analysis of changes Tourist arrivals from Israel increased by 58,0% i...

Local Wednesday, 19 February, 2020

More Than Twice As Many Property Sales Were Made To Non-EU Citizens Than EU Citizens In January

More than twice as many property sales were made to non-EU citizens than EU citizens in January according to official statistics published by the Department of Lands and Surveys last Friday, the Cyprus Property News reported. Property sales to the domestic market, which accounted for 44% of all sales, rose 2% in January compared with January 2019. While sales in Fama...

Real Estate Tuesday, 18 February, 2020

Number Of Students Choosing Cyprus’ Higher Education Institutions Constantly Rises

The number of students in Cyprus’ higher education institutions is constantly rising, the President of Cyprus, Nicos Anastasiades, said on Thursday evening, the CNA reports. Addressing a graduation ceremony of postgraduate students, at the University of Cyprus, the President said that according to official statistical data, from a total of 32,000 students in Cyprus&rsquo...

Local Monday, 17 February, 2020