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Reports written by Editorial

High rents and homelessness

A rise in already high rents and an increase in the number of homeless people has led parliament to urgently call on the government to intervene and provide solutions to problems caused by high rents, especially in Limassol.

High rise developments in jeopardy

Property developers consider that the construction of high rise developments is at risk as a new law requires comprehensive environmental studies to be submitted, which will lead to long delays.

Cyprus real estate sector looking up

Cyprus’ real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high.

Larnaca marina investors given more time

Larnaca marina and port development plans have been put on hold for another three weeks as the strategic investor has asked for an extension to submit their final financial offer for the €400 million project.

Hotel projects grow as Airbnb is to be regulated

New hotels are sustaining a construction industry boom as hoteliers also go ahead with renovations and expansions, despite challenges posed by private self-service accommodation units.

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.

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.

Money laundering assessment

Cyprus is to undergo a money laundering assessment from a Council of Europe committee comprising a group of experts from Moneyval following negative reports in the international media.

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