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Monthly Archives: July, 2016

Investment

Residential twin towers at Ayia Napa

Annette Chrysostomou -
Work on the construction of two luxury residential twin towers ay Ayia Napa should get underway in late September and will form part of the town's new marina accommodating 400 to 450 vessels.
News

Property sales recovery strengthens

Nigel Howarth -
Property sales in Cyprus increased in June 2016 compared to the same period last year, according to official statistics published by the Department of Lands and Surveys, with sales up 42 per cent.
News

Immovable Property Tax 2016

Christos Theodorides -
The Cyprus parliament has agreed that Immovable Property Tax for 2016 will be based on 1980 values but reduced by 75 per cent on the amount paid last year; IPT will be abolished in 2017.
News

Cyprus home prices fall 3.4 per cent

Nigel Howarth -
The Cyprus Statistical Service (CYSTAT) reported that the price of houses in Cyprus fell 3.4 per cent in the first quarter of 2016 in the first issue of its House Price Index issued earlier today.
News

Property tax farce

Nigel Howarth -
The Cyprus government has changed its proposal regarding Immovable Property Tax because, according to media reports, municipalities have already started to send out property tax notices.
News

Banks highly exposed to construction sector

Nigel Howarth -
The Cyprus Central Bank reports that banks are highly exposed to the construction sector in its "Household and Non-Financial Corporations Indebtedness Report" published earlier this week.

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