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Calculating communal fees

Communal fees are required to pay for the insurance, maintenance and repair of apartment buildings in Cyprus and other types of building complexes that contain common areas and shared facilities.

Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which I have summarised together with other changes in this article.

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.

Cyprus villa in charity raffle

A Somerset man is offering his Cyprus villa, which is situated in the Paphos village of Kathikas, as the prize in a charity raffle that aims to raise £40,000 to support numerous charitable causes including one to support a four-year-old with a rare cardiac tumour.

Limassol becoming a sky-rise bubble?

Referring to Limassol as “the bubble of towers” Politis suggested that the uncontrolled vertical development is causing headaches to town planners, warning that the town could pay the price of uncontrolled development.

Cyprus ‘well prepared’ for skyscraper disasters

The Cypriot authorities have assured that fire safety measures are in place to tackle skyscraper disasters following concerns arising from the Grenfell tower disaster in west London.

Manhattan skyline for Limassol?

Numerous high-rise buildings, comprising commercial and residential properties, are set to dominate the skyline of Limassol; several are already under construction others are in the pipeline.

Key findings of Cyprus real estate conference

Key findings form a real estate conference to discuss the state of the Cyprus property market recently hosted by RICS (Cyprus) at which the management of REOs and NPLs were also discussed.

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.

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.

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