Sharp rise in property sales in February

Sharp rise in property sales in February

February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.  During February 2019, the number of property sales contracts deposited at Land Registry office across the Republic of Cyprus rose 25% compared to February 2018 according to official f...
Real Estate Saturday, 16 March, 2019
ExxonMobil announces 5-8t cubic feet of gas off Cyprus

ExxonMobil announces 5-8t cubic feet of gas off Cyprus

Cyprus and ExxonMobil on Thursday announced a gas find estimated between 5-8 trillion cubic feet (tcf) in an offshore field inside the island’s exclusive economic zone. The discovery was made in the Glafcos (Glaucus) 1 well in Block 10 of the EEZ. “Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource ...
Business Friday, 01 March, 2019
Bloomberg: Cyprus the 21st Healthiest Country in the World

Bloomberg: Cyprus the 21st Healthiest Country in the World

Cyprus ranks as the 21st healthiest country in the world according to the 2019 edition of the Bloomberg Healthiest Country Index, which ranks 169 economies according to factors that contribute to overall health. With 83.58/100 points, Cyprus dropped three places from last year’s Index, when it had 88.19 points. Spain ranks as the healthiest country in the ...
International Tuesday, 26 February, 2019
Changes to Citizenship scheme approved

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.  Cyprus on Wednesday (13/02/2019) approved a series of changes to its much-criticised Citizenship-by-Investment scheme, so it becomes “more targeted and trustworthy&rdq...
Business Tuesday, 19 February, 2019
Property sales continue to rise

Property sales continue to rise

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.  Cyprus property sales continued to rise in January, with the number of sales contracts deposited at Land Registry offices in the Republic rising by 10 per cent compared ...
Real Estate Saturday, 09 February, 2019
NASA names two rocks on planet Mars in Cypriot dialect

NASA names two rocks on planet Mars in Cypriot dialect

Two rocks on planet Mars were given by NASA names in the Cypriot dialect, thus honoring the work of a Cypriot scientist who works on the NASA InSight mission. Dr Constantinos Charalambous is a Cypriot planetary scientist born in Limassol and a research member of the Cyprus Space Exploration Organisation (CSEO). Since InSight’s landing on Mars on 26th November 2018, he h...
International Monday, 04 February, 2019
Paphos Has the Lead in Sales to Overseas Property Buyers in 2018

Paphos Has the Lead in Sales to Overseas Property Buyers in 2018

The area of Paphos, one of the most beautiful regions in the Mediterranean, has once again come out on top for attracting the majority of European and Non-European buyers and entrepreneurs. The town of Paphos and the entire picturesque province is the safest and most secure area on the Island, where one can live, work and holiday. Paphos had the lead in purchase...
Real Estate Monday, 28 January, 2019
P&O Ferries to register entire English Channel fleet under Cyprus flag

P&O Ferries to register entire English Channel fleet under Cyprus flag

P&O Ferries, the British shipping firm, has decided to register its entire English Channel operating fleet in Cyprus, a company spokesman told the Cyprus News Agency on Friday. The decision follows the initial re-flagging of two of its ships that operate between Dover and Calais, the ‘Pride of Britain’ and the ‘Pride of France’. The other ships on ...
International Friday, 18 January, 2019
Paphos named best value winter sun destination for Brits in 2019

Paphos named best value winter sun destination for Brits in 2019

Brits looking to beat the winter blues may want to head to the picturesque shores of Cyprus! The popular holiday spot has been named the best value destination for Brits looking for winter sun in 2019, closely followed by Canary Islands Lanzarote and Tenerife. The research was conducted by the Post Office Travel Money team who looked at factors including the co...
Local Thursday, 10 January, 2019
Estia green light from Brussels, not considered ‘state aid’

Estia green light from Brussels, not considered ‘state aid’

The European Commission on Monday approved, under EU state aid rules, Cyprus’ controversial Estia scheme to support private households and small businesses that have encountered difficulties in repaying mortgage loans and risk losing their primary residence. The scheme, which the commission said has an annual budget of around €33 million, sets strict eligibility cri...
Local Thursday, 03 January, 2019
Make sure you read the small print of insurance policies

Make sure you read the small print of insurance policies

VERY few people read let alone understand the small print when they take out insurance for property. Even if you insure a building for ‘all purposes’ including acts of God (rain, floods etc) be sure that the insurance company has its back covered to avoid a reduction to your claim. Recent events have come to our knowledge leading us to express the following: Excess...
Business Wednesday, 19 December, 2018
Agreement close on Airbnb type rentals

Agreement close on Airbnb type rentals

Agreement on a bill designed to regulate and tax rental income on Airbnb type rentals is close but a key question remains concerning short-term letss of apartments in residential areas. AFTER several weeks of discussion, lawmakers are close to agreeing a bill regulating the operation of short-term Airbnb-style property rentals.The key remaining question related to short-term r...
Business Monday, 10 December, 2018
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