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
Paphos Favoured by the Majority of European Buyers and Investors

Paphos Favoured by the Majority of European Buyers and Investors

Paphos is in the lead as the most popular district for overseas buyers especially from Europe and Non-Europeans for the period January- October 2018 by 39.9% in comparison to Limassol which follows with 29.6%.   Larnaca is 3rd with 16.0% and lastly Famagusta with 9.3% and Nicosia with just 5.2%. During the first ten months of 2018, a tot...
Local Wednesday, 28 November, 2018
Christmas present promise for trapped property owners

Christmas present promise for trapped property owners

Parties on Wednesday said they intend to resolve the title deeds mess by Christmas, as ruling Disy chief Averof Neophytou warned banks not to go back on a pledge they had given in July or he will come down on them hard. Back in July, banks pledged not to raise objections to a disputed law in return for the approval of bills making it easier for banks to foreclose on property o...
Local Tuesday, 20 November, 2018
Property Sales up 6% in October

Property Sales up 6% in October

The number of property sales in Cyprus continued to rise in October with the number of sales contracts deposited at Land Registry Offices across the Republic up 6 per cent compared with October 2017. DURING October 2018, the number of property sales contracts deposited at Land Registry offices across the Republic of Cyprus rose 6% compared to October 2017 according to official...
Local Wednesday, 14 November, 2018
Pafilia withdraws interest in Paphos marina, calls for new tenders

Pafilia withdraws interest in Paphos marina, calls for new tenders

Pafilia on Friday withdrew its interest in a tender to design, build and operate a Paphos marina. It said that it has complied with all its obligations in the procedure which has dragged on for 10 years, fulfilling all the requirements set by the Committee on the Management of Marina but that the interminable court procedures that still continue have not allowed the tender to ...
Local Saturday, 27 October, 2018
Lower VAT on land bought for primary residence

Lower VAT on land bought for primary residence

Purchasers of undeveloped land to build an owner-occupied primary dwelling may soon be able to obtain a partial VAT refund if a bill currently being prepared by government is approved. THE GOVERNMENT is preparing a bill exempting from payment of the full 19 per cent VAT, purchases of undeveloped land for the purpose of building on it an owner-occupied primary dwelling. Cu...
Real Estate Wednesday, 24 October, 2018
Cyprus is officially one of the safest countries in the world

Cyprus is officially one of the safest countries in the world

According to a recent ValuePenguin research, Cyprus is one of the safest counties in the world. Out of 106 countries that generate enough data to run a study about the safest countries in the world, Cyprus proudly holds the 5th place worldwide! More amazing is the fact that Cyprus is the No 1 safest place to live and visit among countries that have population u...
International Wednesday, 17 October, 2018
Cyprus house prices rise 0.6 per cent

Cyprus house prices rise 0.6 per cent

The Cyprus house price index (HPI) rose by 0.6 per cent in the second quarter of 2018 and by 1.2 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT). THE CYPRUS Statistical Service (CYSTAT) has announced that prices for houses and apartments in Cyprus rose by an average by 0.6 per cent in the second quarter of 2018 compare...
Real Estate Friday, 05 October, 2018
Bill to tax Airbnb rents to go to plenum

Bill to tax Airbnb rents to go to plenum

A bill designed to regulate and tax the rental income on an estimated 40,000 short term Airbnb style properties in Cyprus should be presented at a plenary session of the Cyprus parliament within the next two weeks.  A BILL regulating and taxing the income on short-term Airbnb-style property rentals should go to the plenum within a fortnight, lawmakers said on Tuesday.&nbs...
Real Estate Thursday, 13 September, 2018
Brexit losses and benefits

Brexit losses and benefits

After the issue of Brexit first raised its head we have been closely following the reactions of businesses and individuals regarding over whether Cyprus will win or lose from such an event in terms of the real estate market. It is unfortunate that the UK will leave the EU and we feel we are losing a lifelong friend. Many of us who have studied or worked in the UK wish the Brex...
International Wednesday, 29 August, 2018
Green light for Limni Golf Resort

Green light for Limni Golf Resort

plans to build a multi-Euro golf course and resort complex at Limni at Polis Chrysochous have been approved after the latest environmental study that found the plans fully met environmental laws and recommendations of the European Commission. After years of effort and submission of a series of special studies, Cyprus Limni Resorts and Golf Courses Plc announced that it has fin...
Real Estate Friday, 17 August, 2018
Paphos high-rise resort gets off the ground

Paphos high-rise resort gets off the ground

The town planning department has approved building permit to construct two 12-storey high-rise buildings and 122 apartments at Geroskipou in Paphos as part of the Peninsula Resort project.  A proposed €3.4 billion resort development project in Geroskipou, Paphos has been given the go ahead with building permits issued to construct two 12-storey high-rises with a tota...
Real Estate Monday, 30 July, 2018
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