Cyprus property prices ‘escalating beyond traditional expectations’

Cyprus property prices ‘escalating beyond traditional expectations’

The upward trajectory of property prices in Cyprus over recent years, driven notably by the rising cost of construction materials and increased demand, has prompted concerns among experts, including Marinos Kineyirou, president of the Council for Registration of Real Estate Agents, who voiced his thoughts on the matter. “We have noticed in recent times that many property...
Real Estate Monday, 25 September, 2023
Crackdown on holiday renters

Crackdown on holiday renters

On Tuesday, lawmakers demanded action against homeowners who rent out their properties but continue to avoid taxes by not signing up for Airbnb. During a special meeting, the House Commerce Committee reviewed the issue. As a result of the recent presidential elections, parliament is currently on break and won't meet again until March as usual. Only about 5,000 of the estimate...
Real Estate Tuesday, 21 February, 2023
An end to trapped buyers in the works

An end to trapped buyers in the works

A bill has been placed before a plenary session of parliament that should prevent any more people buying property in Cyprus becoming ‘trapped buyers’. For readers who have not come across the term ‘trapped buyers’, it refers to those who buy property but are unable to get title (ownership) of the property because its present owner (usually a property de...
Real Estate Monday, 24 October, 2022
Property Price Index second quarter 2022

Property Price Index second quarter 2022

In its overview of real estate activity in Cyprus during the second quarter of 2022 RICS Cyprus with KPMG in their Cyprus Property Index reports relative increases in most property values, however they still remain below the base, which was set in the fourth quarter of 2009. Residential properties are performing well with the prices of apartments and houses on an upward trend....
Real Estate Thursday, 25 August, 2022
Central Bank dispels property bubble fears

Central Bank dispels property bubble fears

People wanting to buy a house in Cyprus are constricted by an upward trend in construction costs and materials, with the latest figures showing a 20% jump. According to Cystat, the average cost of building a house in 2020 jumped by 19.91%, while buyers must expect to cover increases in the cost of construction materials that have risen over the past two years. The average cos...
Real Estate Thursday, 28 July, 2022
House price index fell 5.3% in 2021

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 ...
Local Friday, 27 May, 2022
Property sales hit 14-year high

Property sales hit 14-year high

Property sales in March, as measured by the number of sale contracts deposited at Land Registry offices, hit a 14-year high according to figures released by the Department of Lands and Surveys. The total number of sales in March 2022 rose 33% compared to March 2021; the highest March figure recorded since 2008. With the exception of Nicosia, sales rose in all districts with t...
Real Estate Thursday, 14 April, 2022
Land transaction volume & value increase continues

Land transaction volume & value increase continues

WiRE FS, combining real estate knowhow with technology, has published its analysis of December 2021’s land transactions across Cyprus. WiRE’s analysis indicates that compared to the previous month there has been a 35% increase in the number (1054) and a 44% increase in the value (€171.4 million) of land parcels transacted. More specifically, Nicosia had the h...
Real Estate Friday, 18 March, 2022
2021 Q4 PROPERTY MARKET REPORT

2021 Q4 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 Q4 2021 Property Market Report below....
Real Estate Tuesday, 11 January, 2022
Property prices still at pre-2008 levels

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...
Local Tuesday, 28 December, 2021
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
  • GET IN TOUCH
  • 19 Odyssea Androutsou, Paphos

    Tel.: +357 99 008 999
    info@property-canvas.com
  • Disclaimer: No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of C.N. Property Canvas Ltd or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of C.N. Property Canvas Ltd or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of C.N. Property Canvas Ltd or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of C.N. Property Canvas Ltd or the vendor shall not give rise to any diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of C.N. Property Canvas Ltd or the vendor. Registered & Licensed Estate Agency A.A.826 & A.M. 432/E. Copyright © 2023 | C.N. PROPERTY CANVAS LTD , All rights reserved.
THIS WEBSITE IS USING COOKIES
We use cookies to ensure that we give you the best experience on our website. If you continue using the site, we'll assume that you are happy to receive all cookies on this website and you have read our Cookies Policy.
Continue