Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 1st October 2020

Yearly Archives: 2017

Planning & building permit overhaul

The time consuming and frustrating bureaucracy involved in obtaining building & planning permits in Cyprus may be overhauled provided the recommendations of Austrian experts are adopted.

Cyprus denies ‘selling’ EU citizenship to rich

Cyprus Finance minister Harris Georgiades has said that reports in the Guardian newspaper concerning the granting of EU citizenship to billionaire Russians and Ukrainians are exaggerated.

Paphos Land Registry abuse of power

Officials at the Paphos Land Registry have been accused of breach of power by a local businessman who claims that certain officials have been deliberately dragging their feet over the survey of a plot of land.

The troika returns to Cyprus

Representatives of the troika of international lenders plus the European Stability Mechanism (ESM), the IMF, EC and the ECB , will be in Cyprus later this month for the third post-programme surveillance.

John Hourican “annoyed and impatient”

Bank of Cyprus CEO John Hourican said he is annoyed and impatient by borrowers seeing a rising property market and wanting to hold on and negotiate more time to repay their loans.

How much have property prices changed?

The RICS (Cyprus) Property Price Index for the first quarter of 2017 reported that prices for residential properties rose, but how much have prices changed in your area since the index was introduced?

New home building permits up in June

The number of new homes in Cyprus for which building permits have been issued rose in June 2017 compared to the same period last year according to the Cyprus Statistical Service.

Rise in overseas property sales continues

The steady increase of overseas property sales Cyprus continued in August according to the latest official statistics published by the Department of Lands and Surveys with sales in Famagusta leading the way.

August property sales up 27 per cent

The number of property sales in Cyprus during August 2017 rose by 27 per cent compared with the same month last year according to official figures from the Department of Lands and Surveys.

Cyprus Central Bank: home prices rising

The Cyprus Central Bank's 'Residential Property Price Index' reports that home prices in Cyprus rose 0.3 per cent during the first quarter of 2017 compared to the previous three months; the third consecutive quarterly increase.

Cyprus property prices continue to rise (Update)

RICS (Cyprus) reports that Cyprus property prices are continuing to rise in the thirteenth edition of its Index, with the prices of apartments and houses across Cyprus rising by 1.3 per cent and 2.3 per cent respectively during the first quarter of 2017.

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.

Cyprus 7th most popular spot in Europe for Brits

Cyprus is the seventh most popular European country for Britons seeking to relocate or buy a second property with Paphos being the most popular region according to search statistics collected by Rightmove.

Cyprus slips in property chart

Cyprus has dropped out of the top 10 of the July edition of the TheMoveChannel.com’s Top of the Props chart, which records the most searched for overseas destinations to buy property.

Mixed signals from Moody’s

In two recent reports Moody's said that banks will benefit from increased loan demand but warned that lack lustre performance in loan restructuring is a credit negative and that overall improvement in asset quality to date has been "lethargic".

Cyprus 7th in citizenship by investment

Cyprus has emerged as one of the most popular jurisdictions for EU and non-EU nationals in the Citizenship by Investment Index, published by Financial Times group's Professional Wealth Management.

New homes construction surges

The number of new homes in Cyprus for which building permits have been issued surged by 52.5 per cent in May 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.

Bank of Cyprus fined €170,000

The Bank of Cyprus has been hit with a €170,000 administrative fine by the Office of Competition and Consumer Protection (CCPS) following its investigation into the bank's commercial practices relating to mortgage loans.

Cyprus property sales up 18% in July

Property sales in Cyprus rose 18 per cent in July compared with July 2016 with sales increasing in all districts (with the exception of Larnaca) according to official figures from the Department of Lands and Surveys.

Limassol rents skyrocket

Demand for rental properties in Limassol has grown in recent years as local buyers have difficulty in obtaining home loans due to the banks' stringent loan conditions and because it attracts plenty of foreign businessmen.

Most Read

EU vows to take aim at ‘golden visa’ programmes

For years, wealthy Chinese have made investments in Cyprus and Malta in exchange for European Union passports – so-called golden visa transactions. Now, Brussels...

Wealthy Britons turn to Cypriot citizenship

The number of British entrepreneurs looking to "buy" citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms...

Mixed outlook for real estate

BNP Paribas has released its second 2020 report regarding the property market outlook post-pandemic, presenting forecasts about real estate in uncertain times. The obvious differentiation...

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