Construction costs hike threaten recovery

Construction costs hike threaten recovery

Real estate and construction stakeholders want the government to soften the blow delivered by an “abnormal” increase in construction costs, warning that development could screech to a halt. A leading developers’ lobby group has warned the government that many projects will be put on ice if action is not taken, halting the country’s recovery following th...
Real Estate Monday, 15 November, 2021
2021 Q3 Property Market Report

2021 Q3 Property Market Report

We know the local property market intimately – the facts, the figures, and the trends. So, you can count on us to get you the results you need when you need them. Our Property Report includes important items you need to be aware of as a property owner. Download our Q3 2021 Property Market Report below....
Real Estate Monday, 04 October, 2021
Property sales continue to improve

Property sales continue to improve

The number of property sales in Cyprus continued to improve in August 2021 compared to the same period last year according to figures released by the Department of Lands and Surveys. During August 2021, a total of 724 contracts for the sale of property were deposited at land registry office across the Republic, an increase of 29% compared with the 561 contracts deposited durin...
Real Estate Monday, 06 September, 2021
Recovery in property sales slows

Recovery in property sales slows

Cyprus property sales continued to improve in July but slower than in previous months, with sales to the overseas market leading the way and a small drop in sales to the domestic market compared July 2020 according to figures released by the Department of Lands and Surveys. Total sales During July a total of 864 contracts for the purchase of real estate comprising residential...
Real Estate Monday, 09 August, 2021
Cyprus Property Index recovering

Cyprus Property Index recovering

The Residential Property Price Index recorded an increase for the first time since the beginning of 2021.  Apartments showed an increase of 1.2% in prices compared to last quarter while houses rose by 0.2%.  Since the beginning of 2021 apartments had a total increase of 2.5%.  There is no clear reason for the increase however it is possible that this...
Real Estate Thursday, 01 July, 2021
Government extends interest rate subsidy scheme

Government extends interest rate subsidy scheme

The Government decided to postpone the deadline for the interest rate subsidy scheme it introduced back on the beginning of the pandemic in March 2020. The subsidy is of interest is up to 1.5% for the first four years of the loan for a first residence up to €400,000. For companies and self-employed people the subsidy will be up to 2% for the first two years, and drop to ...
Real Estate Monday, 22 February, 2021
New property sales tax to support refugees

New property sales tax to support refugees

The parliament approved this week a new levy of 0.4% will be imposed on all property sales in order to support Greek-Cypriot refugees. According to the new law, the tax will be on any sale/transfer of real estate, the levy will be payable by the seller and the funds will be distributed to the support the refuges through various Governmental Schemes....
Real Estate Tuesday, 16 February, 2021
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