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Confusion over Cyprus property values

While the European Commission contends that Cyprus properties are overvalued by 5 per cent, the European Central Bank considers they are undervalued by between 4 per cent and 16 per cent.

Fitch affirms Cyprus at B+

Fitch Ratings has affirmed the long-term credit rating of Cyprus B+, with a positive outlook, but warned that “banks remain fundamentally weak and pose an ongoing risk to the economy and public finances.”

Plans for luxury apartments in Larnaca

Lebanese investor Yussef Kanaan has announced plans to invest €15 million to build luxury apartments in Larnaca on land that he purchased for €3.5 million and expects to get a building permit within the week.

Cyprus real estate market 2016

In isolated cases, where the demand for residential real estate in Cyprus is low and distressed assets result in excess supply, further discounts of up to 40% of market value are possible.

Cyprus plummets 18 places in property chart

Cyprus dropped eighteen places in the December Top of the Props chart published by TheMoveChannel.com, which records the most searched for overseas destinations to buy property.

Middle Eastern investors eyeing Cyprus

Chestertons reports that Cyprus has carved a niche for itself over the years and is receiving considerable interest from Middle Eastern investors who are looking to establish their second home overseas.

Cyprus back at number 10

Cyprus jumped twelve places to number 10 in November’s Top of the Props chart published by TheMoveChannel.com, which records the most searched for overseas destinations to buy property.

New expectations for major projects

The Cyprus Investment Promotion Agency has identified serious interest on behalf of a number of prospective investors in twenty eight large scale development projects in Cyprus.

Chinese interest increasing

Chinese investor interest in Cyprus has grown dramatically over the past year with the juwai.com Purchasing Intent Index reporting the highest increase of all the Mediterranean countries.

Tax incentives may cost €21 million

The property tax incentives designed to attract high-net-worth foreign investors to Cyprus could cost the government up to €21 million a year according to finance minister Harris Georgiades.

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