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Archive for 2018

Mushrooming Limassol towers ‘unsustainable’

Locals and experts believe that another tall building in an area of Limassol that has seen its fair share of ‘towers’, will only add to the many unsustainable urban constructions blighting the town.

Paralimni marina construction underway

Construction work has begun on the Paralimni marina, which is expected to be fully operational by mid-2021 and which will and will have a capacity of approximately 300 vessels.

Moderate property price rises continue

The increases in residential property prices remain moderate reports the Cyprus Central Bank in its Property Price Index for the second quarter of 2018, which was published yesterday.

Cyprus property prices rising

The RICS Cyprus Property Price Index for first quarter of 2018 reports that residential prices for houses and apartments increased by 1.3% and 2.9% respectively on a quarterly basis.

632 new homes in July

The number of building permits for the construction of new homes in Cyprus rose 32.8 per cent in July 2018 compared to the corresponding month last year providing for the construction of 632 new homes.

Cyprus ‘Golden Visa’ scheme poses high risk

Three European countries (Cyprus, Malta and Monaco) are amongst the twenty-one countries whose residence and citizenship by investment schemes potentially pose a high-risk says OECD.

Fifty million lost due to planning delays

Delays in issuing planning permits cost the state €50 million annually, which could be used to build ten schools, three hospitals or a museum according the Cyprus Technical Chamber ETEK.

Cyprus property market on the up

Specialists are confident over the future of the Cyprus property market, saying that the upward trend in house prices is combined with an ongoing increase in demand for real estate.

Locals fear for Coral Bay

Locals fear for the future of Coral Bay if developer’s plans to build next to the blue-flagged area go ahead following a Government decision to allow a 2005 appeal by Leptos developers.

Continuing rise in property sales (Update)

The number of property sales in Cyprus continued to rise in September with the number of sales contracts deposited at Land Registry Offices across the Republic up 14 per cent compared with September 2017.

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