Archive for November, 2017
Reduced VAT on property purchase
Those buying a property in Cyprus as their main residence may apply for a reduced rate of VAT of 5% on the purchase price/construction cost of a new dwelling providing they meet certain criteria.
Another stab at resolving the Title Deeds mess
The Cyprus government to take another stab at resolving Title Deeds mess created by nefarious developers who duped people into buying mortgaged property as the law passed in 2015 failed to fully address the problem.
Rise in property sales led by overseas buyers
The rise in Cyprus property sales in October was led by overseas buyers who bought 65 per cent more properties than in the same month last year according to official statistics from the Department of Lands & Surveys.
Chinese ban no impact on property sales
The restrictions introduced by the Chinese government to reduce outbound investment in real estate have yet to impact property sales according to the Cyprus Chambers of Commerce and Industry (Keve).
Hellenic bank violated consumer rights
The Cyprus Consumer Protection Service has ruled that the Hellenic Bank violated consumer rights with abusive clauses in mortgage contracts and imposed charges for early debt repayments.
Cyprus residence permits statistics
Cyprus issued 16,970 residence permits to non-EU citizens in 2016 according to statistics published yesterday by the Eurostat, the statistical office of the European Union, in a press release.
ETEK calls for stricter supervision
ETEK has called for stricter supervision of building permits and urged the public to check that engineers they wish to employ are registered and licensed after a women claiming to be an architect was arrested.
Limassol rents spike as market booms
A property market boom in Limassol has driven up rents as demand for housing has outstripped supply as more companies have moved to the area seeking accommodation for their staff.
Cyprus property prices on the rise
Cyprus property prices are continuing to rise, according to the thirty-first publication of the RICS Cyprus Property Price Index with apartment and house prices maintaining a steady growth.
Home prices up says Cyprus Central Bank
Home prices in Cyprus (houses and apartments) recorded a quarter-on-quarter increase of 0.5 per cent in the second quarter of 2017 according to the Cyprus Central Bank’s latest Residential Property Price Indices.
