Cypriot buyers only constant in property market

Cypriot buyers only constant in property market

The repeal of the Citizen by Investment Programme (CIP), the consequences of the pandemic – economic and social – and the general prevailing uncertainty render any predictions extremely difficult. However, an in-depth analysis of data from previous months can help draw some important conclusions that can steer the market when making relevant decisions. Following W...
Local Wednesday, 27 January, 2021
Greens concerned over high rises on Paphos coast

Greens concerned over high rises on Paphos coast

An existing Paphos hotel on the seafront of the town is earmarked for demolition with three nine-storey buildings due to take its place, the local green partyannounced on Monday. An announcement in a newspaper three days ago stated that anyone requesting information or wishing to submit proposals should do so within seven days. “This is the first step towards creating a...
Local Friday, 22 January, 2021
First snow expected, yellow weather warning issued (update)

First snow expected, yellow weather warning issued (update)

The met office has issued a yellow weather warning for Wednesday, while the first snow this winter is expected to fall on the higher mountains at night. The weather alert is in place from noon until 6pm. “Isolated heavy thunderstorms accompanied by hail are likely to affect the area. Showers may exceed 40mm per hour,” the met office warned. In the morning, the ...
Local Wednesday, 13 January, 2021
Banks extend freeze on home repossessions

Banks extend freeze on home repossessions

The Cyprus Banks Association announced on Thursday they would extend the suspension of foreclosures concerning primary homes valued at up to €350,000 until the end of March. According to a written statement by the association, its members “taking into account the prevailing economic conditions, are suspending the procedures for the sale of mortgaged real estate prop...
Local Thursday, 07 January, 2021
Travel To And From Cyprus In January – September Down By 79% Due To Covid-19

Travel To And From Cyprus In January – September Down By 79% Due To Covid-19

Travel to and from Cyprus was hit hard due to Covid-19 restrictions with the movement of travellers marking a steep annual drop of 79% from January to September, according to data published on Monday by the Statistical Service of Cyprus (Cystat). During the period of January – September 2020, arrivals of travellers totalled 981,849 compared to 4,610,502 in the correspond...
Local Wednesday, 09 December, 2020
Cyprus Tourism Hit Worse Than Estimated From Coronavirus Pandemic, Savvas Perdios Says

Cyprus Tourism Hit Worse Than Estimated From Coronavirus Pandemic, Savvas Perdios Says

Cyprus tourism was hit worse than initially estimated from the coronavirus pandemic, Deputy Tourism Minister Savvas Perdios has said, noting that tourist arrivals and income fell by 84% in relation to the previous year instead of 80% initially estimated. Perdios briefed on Tuesday the parliamentary committee on tourism of the tourism strategic planning implementation. He note...
Local Wednesday, 18 November, 2020
Smart Drive: Anytime Cyprus’ innovative insurance scheme

Smart Drive: Anytime Cyprus’ innovative insurance scheme

Interamerican’s Anytime has recently introduced a new innovative insurance scheme to the Cypriot market called Smart Drive, created as part of the company’s vision of a safer future with fewer road accidents. Smart Drive has been designed to reward careful drivers. This happens from the innovative app Smart Drive Cyprus, which can be downloaded by anyone from the A...
Local Monday, 19 October, 2020
Construction of the Sewage System in Pyrgos and Parekklisia

Construction of the Sewage System in Pyrgos and Parekklisia

Construction of the Sewage System in the Communities of Pyrgos (Contract E17A) and Parekklisia (Contract E17B) Α ceremony took place on Friday 28/8/2020 at the Multipurpose Center of the Community of Pyrgos, for the signing of the Contracts for the construction of the Sewerage System in the Communities of Pyrgos and Parekklisia. The Contract concerning the Community of ...
Local Thursday, 01 October, 2020
Cyprus: How important is a Title Deed?

Cyprus: How important is a Title Deed?

The acquisition of a Title Deed is usually simple and straightforward, however, at times it can also involve a very complex and specialised process which understandably is not always very clear to the average person. Nevertheless, a Title Deed is a very important legal document which is used as evidence to prove ownership of immovable property, such as a home or a plot of land...
Local Friday, 28 August, 2020
Economic Sentiment Improves In August, Whereas Consumer Confidence Weakens

Economic Sentiment Improves In August, Whereas Consumer Confidence Weakens

Εconomic sentiment in Cyprus improved in August 2020, as the Economic Sentiment Indicator (ESI-CypERC) increased by 1.9 points compared with July 2020. However, consumer confidence weakened considerably. According to a press release of the Economics research centre of the University of Cyprus, the increase in the ESI-CypERC was driven by confidence improvements among f...
Local Thursday, 27 August, 2020
Two Photovoltaic Parks Completed In Ayios Ioannis

Two Photovoltaic Parks Completed In Ayios Ioannis

Suntechnics ltd has announced that its cooperation with IRIS LENOR ENERGY LTD was completely successful. The company, a member of Green Energy Group has completed and delivered the project 35 and 43, with a capacity of 1.5 MWp each. Suntechnics ltd as a leader of photovoltaic systems, has taken over the Engineering, Procurement, Construction, Operation and Maintenance of two p...
Local Wednesday, 26 August, 2020
Small increase in new homes

Small increase in new homes

The Cyprus construction sector staged a slight recovery May falling by just 0.1% compared to May 2019, the month that the Covid-19 containment measures started to be lifted, according to official figures released by the Cyprus Statistical Service earlier today, with 708 building permits issued compared to 709 in May 2019. The total area of the permits fell by fell by...
Local Tuesday, 25 August, 2020
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