Cyprus Introduces Major Property Tax Reforms from 1 January 2026

Cyprus has implemented a comprehensive overhaul of its tax framework, with a wide-ranging package of reforms taking effect from 1 January 2026. Several of these measures directly affect property owners, investors, and buyers, significantly reshaping the country’s real estate tax environment. Based on guidance published by leading legal and accountancy firms, the reforms ...

House price index fell 5.3% in 2021

The Cyprus House Price Index (HPI) fell by 5.3 per cent on an annual basis at the end of 2021 according to preliminary figures in a press release issued by the island’s Statistical Service (CYSTAT). The HPI also reports that the price of residential properties in the fourth quarter of 2021 fell by 3.1 per cent compared to the previous quarter. The base year for the HPI ...

Property prices still at pre-2008 levels

Property prices in Cyprus have bounced back by 87% compared to the first quarter of 2008, according to a recent report by the rating agency DBRS. Real estate values have been climbing slowly, after declining since the 2008 global property crisis. DBRS assessed the property markets in Cyprus and another five countries, Spain, Ireland, Italy, Greece, and Portugal, in a recent r...

General Government Records Fiscal Deficit €187.9 Mn In The First Quarter Of 2021

General Government recorded a fiscal deficit of €187.9 mln for the period of January-March 2021, as compared to a surplus of €226.9 mln that was recorded during the period of January-March 2020, according to preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT).During the first quarter an increase in expenditur...

Ryanair New Summer Schedule regarding Cyprus

Ryanair announced 34 routes in total with 5 new entries (Bari, Bologna, Corfy, Rhodes, Venice and Venice Treviso).   Prices start just under €20 per seat. Maria Kouroupi, Hermes Airports Senior Manager Aviation Development & Communication, was pleased by the new entrance and the fact that Ryanair will keep its base in Paphos International Airport. ...

Cyprus first in Europe for testing and fifth for vaccines.

Cyprus with just under 36,000 test per 100,000 population remains in the first position among Europe and fifth with almost 15 vaccinations per 100 people. Total number of vaccinations were 131,623 of which approximately 28% have done both doses. ...