Price Index of Construction Materials Decreases

Price Index of Construction Materials Decreases

The Price Index of Construction Materials for July 2019 reached 101,35 units (base year 2015=100,00), recording a decrease of 0.13% compared to June 2019, according to data released by the Statistical Service of Cyprus. For the period January - July 2019, the index recorded an increase of 1.32% compared to the same period of 2018.  Source: www.goldnews.com.cy ...
Real Estate Friday, 27 September, 2019
Pound surges to 2-month high; reading too much into Juncker's words

Pound surges to 2-month high; reading too much into Juncker's words

The Pound has surged past the psychologically-important 1.25 level, reaching its highest in two months versus the Dollar, on hopes that a Brexit deal can be reached before the October 31 deadline. With the European Commission President Jean-Claude Juncker reportedly saying that he’s doing “everything” to deter a no-deal Brexit, the statement is lending hope t...
Real Estate Monday, 23 September, 2019
Land Registry can't explain why a plot worth EUR 70 mln is now EUR 5 mln

Land Registry can't explain why a plot worth EUR 70 mln is now EUR 5 mln

The Land Registry admitted it may have been mistaken in their appraisal of a state plot opposite the former Nicosia Hilton Hotel in the heart of the capital, estimating the property at just €5 mln down from €70 mln. The House Watchdog Committee heard Andreas Socratous, the director of the land registry department, acknowledge that there may h...
Real Estate Friday, 13 September, 2019
Value of building permits rises 115% in H1 to EUR 1.7 bln

Value of building permits rises 115% in H1 to EUR 1.7 bln

The value of Cyprus building permits issued in the first half of 2019 reached €1.7 bln, more than double the amount for the same period last year. During the six-month period January-June 2019, 3,393 building permits were issued compared to 3,110 in the same period of 2018. These permits provide for the construction of 4,200 housing units, way above last year’s 2,8...
Real Estate Wednesday, 11 September, 2019
The Art of Investment During Uncertain Times

The Art of Investment During Uncertain Times

Michael Bolliger, who heads the emerging markets asset allocation team at the UBS Chief Investment Office in Zurich, was in Cyprus earlier this month. During his stay he spoke exclusively to GOLD. The April issue of UBS Global Wealth Management report notes that investors are worried about “the next recession”, which suggests that it is inevitable. Is this what you...
Real Estate Wednesday, 24 July, 2019
Trapped buyers law changes discussed

Trapped buyers law changes discussed

A bill aimed at improving the 2015 trapped buyers law, which was successfully contested by the banks as being unconstitutional in the lower courts is being discussed by the House Legal Affairs Committee. House Legal Affairs Committee members on Wednesday began discussing a bill that aims to amend and improve the 2015 trapped buyers law concerning thousands of home buyers in Cy...
Real Estate Tuesday, 23 July, 2019
Cyprus property sales at eleven year high

Cyprus property sales at eleven year high

Cyprus property sales in April reached the highest monthly figure recorded since September 2008 following a 61 per cent surge according to official figures from the Department of Lands and Surveys. APRIL saw a sharp rise in Cyprus property sales compared to the numbers sold in the corresponding month last year, with the number of contracts deposited at Land Registry offices up...
Real Estate Tuesday, 04 June, 2019
Cyprus real estate investment: prospects & risks

Cyprus real estate investment: prospects & risks

The figures, trends and the state of the Cyprus real estate market over the last few years are a clear indication that Cyprus is becoming more and more interesting for property investors. When it comes to investing in real estate, the Cypriot market is considered to be an increasingly attractive investment destination, which has been gaining more and more importance over the p...
Real Estate Tuesday, 16 April, 2019
Sharp rise in property sales in February

Sharp rise in property sales in February

February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.  During February 2019, the number of property sales contracts deposited at Land Registry office across the Republic of Cyprus rose 25% compared to February 2018 according to official f...
Real Estate Saturday, 16 March, 2019
Property sales continue to rise

Property sales continue to rise

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.  Cyprus property sales continued to rise in January, with the number of sales contracts deposited at Land Registry offices in the Republic rising by 10 per cent compared ...
Real Estate Saturday, 09 February, 2019
Paphos Has the Lead in Sales to Overseas Property Buyers in 2018

Paphos Has the Lead in Sales to Overseas Property Buyers in 2018

The area of Paphos, one of the most beautiful regions in the Mediterranean, has once again come out on top for attracting the majority of European and Non-European buyers and entrepreneurs. The town of Paphos and the entire picturesque province is the safest and most secure area on the Island, where one can live, work and holiday. Paphos had the lead in purchase...
Real Estate Monday, 28 January, 2019
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
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