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Archive for April, 2018

Crocodile park gets go-ahead

A crocodile park earlier rejected by the Psematismenos and Athienou communities has been given the green light by the Achna Community Council in Famagusta by a majority of council members.

VAT break for young couples buying land for first home

Young couples buying land for their first home in Cyprus may only pay 5 per cent VAT on its purchase price rather than 19 per cent under a draft bill submitted to parliament by the government.

Non-performing loans (NPLs) initiative

Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws.

Limassol rent rises spiral upwards

Property rents in Limassol have increased by around 25 per cent over the past two years, much higher than other cities in Cyprus resulting in many locals being priced out of the market.

Cyprus property revaluations underway

Cyprus properties are being revalued by the Department of Lands and Surveys to reflect their 2018 values; the revaluation exercise was announced by DLS Director Andreas Sokratous earlier today.

Cyprus house prices up 2.7 per cent

The Cyprus house price index (HPI) rose by 2.7 per cent in the fourth quarter of 2017 and rose 2.4 per cent on an annual basis according to a preliminary estimate by the Statistical Service.

Cyprus construction NPLs highest in Europe

The percentage of non-performing loans (NPLs) linked to the Cyprus construction industry are the highest in Europe according to a press release issued by the European Banking Authority.

Land Registry & Property Transfer Fees

In Cyprus, Property Transfer Fees are the local equivalent of the UK’s Stamp Duty Land Tax (SDLT), is a tax that is paid by a purchaser when they buy property or land; so why are so many people complaining?

January new home permits up 25 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 24.9 per cent in January 2018 compared to January 2018 according to the Cyprus Statistical Service.

Impressive growth in Cyprus property sales

The impressive growth in Cyprus property sales continued in March with the number of properties sold rising in all districts (with the exception of Famagusta) according to the Department of Lands and Surveys.

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