Property Canvas - Paphos Properties for sale and rent

Paphos parking gets ‘smart’

Paphos aims to become the first town in Cyprus to implement ‘Smart’ parking and a tender for the project was launched at the weekend, according to municipal officials. “The municipality of Paphos announced the tender for the supply of a “smart” parking management system, with an estimated cost of €1.2 million and an installation duration of s...

Local Tuesday, 11 August, 2020

Talks On ‘Yishai’ Gas Field On Track Says Cypriot Energy Minister

Cyprus-Israel talks seem to be on the right track regarding Israeli "Yishai" gas field adjacent to Cyprus’ "Aphrodite" field, as Energy Minister Natasa Pilides said, after her first video conference with her Israeli counterpart Yuval Steinitz. In statements to CNA Pilides said the issue has progressed and next week there will be a discussion between the General Directors...

Business Monday, 10 August, 2020

Ryanair to increase flights to 60% of normal schedule in August

Ryanair will increase flights to over 60% of its normal schedule throughout August following what it said on Thursday was a successful resumption of services at 40% of capacity last month following COVID-19 lockdowns. Europe’s biggest budget airline flew 4.4 million passengers in July, a broadly expected 70% year-on-year fall. It slashed its target for the financial year...

International Friday, 07 August, 2020

Completion and delivery of two additional photovoltaic parks

Two additional photovoltaic parks, with a total capacity of 2.5MW were completed and connected to the EAC national network, from L&T Sun Power Ltd. The two parks are part of a larger development program of photovoltaic parks of the company, aiming at producing energy from Renewable Energy Sources with a total capacity of 10MW. L&T Sun Power Ltd, combines the joint effo...

Local Thursday, 06 August, 2020

Property sales in Cyprus improving

Property sales in Cyprus fell by 8% in July compared to July 2019 according to official figures from the Department of Lands and Surveys. During July a total of 825 property sales contracts were deposited at Land Registry offices across the island compared to the 896 deposited in July last year. However, considering there was an 80% fall in April, a 71% fal...

Real Estate Wednesday, 05 August, 2020

Cyprus gets EBRD and EU financing for natural gas

Cyprus’s dependency on oil for energy will be reduced after a €374 million landmark project introduces natural gas to the country for the first time. Cyprus will benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country, with a project jointly financed by the European Bank for Reconstruction and Development (EBRD), th...

Local Tuesday, 04 August, 2020

Cyprus-Russia tax treaty under discussion in August

There is one further discussion to be held between Russian and Cyprus negotiators in August, sources close to the negotiations told the Cyprus Mail on Friday. It is still possible for Cyprus to obtain changes to the terms proposed by Moscow, the sources said, because a draft has not yet been finalised. Cyprus negotiators are seeking to have exceptions made to the 15 per cent t...

Business Monday, 03 August, 2020

Economic Sentiment Improved In July, Driven By Confidence Boost In Services

The University of Cyprus’ Economic Research Centre released its monthly bulletin, revealing that the economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 4.5 points compared with June 2020, driven by confidence improvements in services and among consumers. The bulletin further stated that the increase in the Services Confide...

Business Friday, 31 July, 2020

Interior minister announces fast-track building permits

A planning or building permit will be readily available between 10-20 days as part of a new move to cut bureaucracy, Interior Minister Nicos Nouris said on Wednesday. In a press conference, Nouris said the fast-track would begin as of October 1. Those who submit the application in writing will have the permit ready in 20 days while those who apply online can have the permit in...

Local Thursday, 30 July, 2020

Cyprus will see tourists from the UK, says ACTA president

When Cyprus opens to UK tourists – who must still be tested – on 1 August, individual tourists will come, says President of the Association of Cyprus Travel Agents Vassilis Stamataris, in an interview with the Cyprus Mail. Stamataris explains that ACTA has done research in the UK, and has found that there is pent-up demand. ACTA has also found a very big company th...

Local Wednesday, 29 July, 2020

Real estate measures to counter the impact of Covid-19 in Cyprus

The Cyprus real estate market is held hostage by the coronavirus, and its performance is going to get worse before it gets better. The effects on real estate will vary and the extent of the effects will depend upon the duration of the virus, the development of the vaccine, and how quickly we apply real estate measures. When it comes to the Cypriot real estate, most local exper...

Real Estate Tuesday, 28 July, 2020

Paphos undergoes multi-million facelift

Paphos is in for a facelift with its fair share of new developments while getting smarter with digital projects worth tens of millions of euros nearing completion or in the making. Once lagging behind other towns in Cyprus regarding development activity, Paphos is catching up with the construction industry picking up from where it left off before the coronavirus outbreak with ...

Local Monday, 27 July, 2020