Construction of new homes doubles

Construction of new homes doubles

The number of building permits authorised in December 2019 provided for the construction of more than twice as many new homes as those authorised in December 2018 according to official figures. The construction of 1,107 new homes was authorised in December 2018 compared to the 504 authorised in December 2018 according to official statistics from the Cyprus Statistic...
Real Estate Friday, 20 March, 2020
The Cyprus’s Real Estate Market At Full Speed. What Next?

The Cyprus’s Real Estate Market At Full Speed. What Next?

Residential and Commercial real estate are at an all-time full speed in a relentless “development arena” that seems to ignore everything that took place in 2013. It’s a new era in Cyprus’ real estate history, close to surpassing in prices and quantity the 2008 all-times high.  How long can this go on and are we at the peak yet? Certainly, it&rsquo...
Real Estate Wednesday, 26 February, 2020
Law Regulating Airbnb Rentals In Cyprus is Finally Enacted

Law Regulating Airbnb Rentals In Cyprus is Finally Enacted

On Friday 17/01/2020, the House of Representatives passed a new law, N. 9(I)/2020 (also “the Law”), regulating the registration and operation of self-catering accommodation, which was subsequently published in the Government’s official Gazette on 7th February 2020. The Law is directed at operators currently utilizing online platforms such as Airbnb and B...
Real Estate Tuesday, 25 February, 2020
New rent law provides grey areas

New rent law provides grey areas

It was pleasing to hear that, after three postponements, Cyprus MPs have finally voted in the much-awaited amendment to the rent law. The pros of the amendment are the following: First, the House has exhibited the courage to touch upon this law. Second, MPS have included an amendment introducing e-notifications allowing notifications to be delivered faster to defendant ten...
Real Estate Thursday, 20 February, 2020
More Than Twice As Many Property Sales Were Made To Non-EU Citizens Than EU Citizens In January

More Than Twice As Many Property Sales Were Made To Non-EU Citizens Than EU Citizens In January

More than twice as many property sales were made to non-EU citizens than EU citizens in January according to official statistics published by the Department of Lands and Surveys last Friday, the Cyprus Property News reported. Property sales to the domestic market, which accounted for 44% of all sales, rose 2% in January compared with January 2019. While sales in Fama...
Real Estate Tuesday, 18 February, 2020
Property sales in Cyprus in Jan 2020 again dominated by non-EU nationals

Property sales in Cyprus in Jan 2020 again dominated by non-EU nationals

For yet another month,  foreign property buyers in Cyprus from outside the EU outnumbered those originating from the bloc, according to Land Registry data for January 2020. Specifically, the first month of the new year recorded a total of 325 sales documents submitted by foreigners to the Land Registry. Most were by third country national, in fact, twice as many as those ...
Real Estate Tuesday, 11 February, 2020
Estia applicants hit 50% of eligible borrowers

Estia applicants hit 50% of eligible borrowers

Applications for the Estia programme, which aims to assist home owners with non-performing mortgages by providing government support, have been submitted by more than 50 percent of those eligible. MORE than 5,400 people have now applied for the state’s Estia mortgage debt relief scheme, representing some 50 per cent of those eligible, Finance Minister Constantinos Petrid...
Real Estate Friday, 07 February, 2020
Cyprus: buying property

Cyprus: buying property

The UK Foreign & Commonwealth Office has recently updated information for British nationals wanting to buy property in Cyprus; further information be found on the UK.GOV website. PURCHASING property in Cyprus has a number of potential pitfalls. The British High Commission advises potential purchasers to exercise extreme caution when buying a property if the title deeds are...
Real Estate Wednesday, 29 January, 2020
Culture helps sell Cyprus real estate

Culture helps sell Cyprus real estate

With the Xmas spirit coming up we thought of writing a “light” article on the subject of real estate. A country which is better known as a holiday destination and for its good weather, we are experiencing an upgrade in our standard of living and entertainment, having attracted the attention of international stars, which is now extended to real estate. To this end,...
Real Estate Monday, 23 December, 2019
Building plots have regained their investment status

Building plots have regained their investment status

Acquisition of land/building plots as an investment, either for future capital appreciation/development was up until recent years more of a national sport. Due to the boom years up to 2008 for the real estate market when prices increased at a very fast rate and with positive sales prospects, investing in land made a lot of sense. Since the commencement of the recession, howev...
Real Estate Tuesday, 10 December, 2019
What’s next for the Cyprus real estate market

What’s next for the Cyprus real estate market

The conclusion of 2019 is that the real estate market is changing faster than ever and requires constant innovation, updating and transformation. The positive trend will continue in the coming period, as the Cypriot real estate market is constantly developing and becoming more and more attractive for global investors, as well as the banks that follow their projects with v...
Real Estate Friday, 06 December, 2019
Paphos Remains the Most Popular Spot for Overseas Buyers and Celebrities

Paphos Remains the Most Popular Spot for Overseas Buyers and Celebrities

Beautiful and picturesque Paphos as the new cosmopolitan region in Cyprus is once again becoming the attraction for the majority of the European and Non-European buyers and especially for celebrities and Royals. The historic town of Paphos and the entire natural province is the safest and most secure area on the Island, for the whole family. Paphos is in the lead for the perio...
Real Estate Monday, 02 December, 2019
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