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Archive for 2017

Cyprus real estate market report 2016

In its 2016 annual review Resolute Asset Management reports that the Cyprus real estate market is gradually becoming more active partly due to improving local and international economic conditions.

Larnaca marina edging forward

Ambitious plans for the Larnaca marina and port project are edging forward with Transport Minister Marios Demetriades announcing that the target to sign contracts is the end of 2017, depending on progress.

Chinese property buyers targeted

It appears that Chinese property buyers are now being targeted by nefarious elements involved in the Cyprus property industry now that British buyers have finally wised-up to the scams.

Bank of Cyprus, the reluctant estate agent

With the Bank of Cyprus now being the island’s second-biggest private real-estate agent after the church, it might be seen as a good place to start bargain-hunting for a property in Cyprus.

More new homes in December

The number of new homes in Cyprus for which building permits have been issued increased by 55.7 per cent in December 2016 compared to the same period in the previous year according to the Cyprus Statistical Service.

Cyprus has made limited progress

Cyprus has made limited progress with implementing the 2016 country-specific recommendations said the European Commission in its country report on Cyprus issued earlier today.

Banks would benefit from property price recovery

Moody’s expects that Cyprus property prices will broadly stabilise over the coming quarters and that demand for property will increase gradually from low levels; however household debt will constrain growth.

Property tax dodgers discovered

Thousands of properties in Cyprus that have not been declared to the property Tax Department have been discovered during a revaluation exercise by the Department of Lands and Surveys according to the island’s Interior Minister.

Construction and housing statistics 2014

The Statistical Service of Cyprus (CYSTAT) has published the annual report “Construction and Housing Statistics, 2014”, which contains detailed data on the performance of the industry during 2014.

Marginal rise in property prices

Cyprus property prices rose marginally during the third quarter of 2016 for the first time since the end of 2009 according to the Residential Property Price Index published by the Cyprus Central Bank.

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