Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: February, 2017

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.

Bank of Cyprus, the reluctant estate agent

With the Bank of Cyprus now being the island's second-biggest private real-estate agent after the church, it might be seen as a good place to start bargain-hunting for a property in Cyprus.

More new homes in December

The number of new homes in Cyprus for which building permits have been issued increased by 55.7 per cent in December 2016 compared to the same period in the previous year according to the Cyprus Statistical Service.

Cyprus has made limited progress

Cyprus has made limited progress with implementing the 2016 country-specific recommendations said the European Commission in its country report on Cyprus issued earlier today.

Banks would benefit from property price recovery

Moody's expects that Cyprus property prices will broadly stabilise over the coming quarters and that demand for property will increase gradually from low levels; however household debt will constrain growth.

Property tax dodgers discovered

Thousands of properties in Cyprus that have not been declared to the property Tax Department have been discovered during a revaluation exercise by the Department of Lands and Surveys according to the island's Interior Minister.

Construction and housing statistics 2014

The Statistical Service of Cyprus (CYSTAT) has published the annual report "Construction and Housing Statistics, 2014", which contains detailed data on the performance of the industry during 2014.

Marginal rise in property prices

Cyprus property prices rose marginally during the third quarter of 2016 for the first time since the end of 2009 according to the Residential Property Price Index published by the Cyprus Central Bank.

How can Cyprus banks justify their action?

Cyprus banks are blocking trapped property buyers getting Title Deeds, while in Spain the Supreme Court has ruled that the banks must refund money to purchasers whose homes were never completed.

November building permits up by a third

The number of building permits authorised by the municipal authorities and the district administration offices during November 2016 stood at 550 according to the Cyprus Statistical Service.

Property sales off to a promising start

Property sales in Cyprus got off to a promising start in 2017 with sales increasing in all districts during January (with the exception of Famagusta) compared to the numbers sold in January 2016.

Citizenship for sale controversy

The Cyprus property market could be hit by a fall in property prices if investors granted a Cypriot passport under the citizenship-for-sale scheme decided to sell their property after three years.

Zyprus: Cyprus property portal

The Zyprus property portal, which enables those wishing to buy, sell or rent a property in Cyprus to make better-informed property decisions, is Cyprus' answer to Zoopla in the UK and Zillow in the USA.

Most Read

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.