Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday, June 2, 2020

Yearly Archives: 2018

Communal fees – sinking fund

Some Management Committees in Cyprus have set up a 'sinking fund'; money set aside to replace/renew/repair items like swimming pool equipment, watering systems, external redecoration, etc.

Top ten Cyprus property stories in 2018

Cyprus property news has attracted more than 850,000 visitors in 2018 and here is a summary of the top 10 most popular stories, which include articles and news about Title Deeds, swimming pools, taxation, etc.

Fighting for Pissouri landslide victims

The lawyer acting for the victims of the landslide in the Limnes area of Pissouri has called on the government to stop pretending, admit there is a landslide and compensate those affected.

KPMG Cyprus real estate report

KPMG's 'Cyprus Real Estate Market Report – The Insights', now in its ninth edition, provides an overview of the Cypriot economy and assesses the performance of the real estate sector.

Pension Christmas present from HMRC

Amendments to the 2018 Double Taxation Convention between the UK and Cyprus allow those in receipt of Government service pensions to choose whether to pay tax on that pension to the UK or Cypriot authorities.

What next for Limassol development?

With Limassol's seafront peppered with luxury towers and new developments, there is almost no room for new projects, so investors are heading outwards while eyeing the area between the new marina and the old port.

Cyprus property price index Q2 2018

The RICS Cyprus Property Price Index for the second quarter of 2018 reports that residential prices for houses and apartments increased by 1.3% and 2.1% respectively on a quarterly basis.

Almost 2,500 ‘golden visa’ applications

A list contained in a letter that was leaked to the media reveals that between May 2013 and August 2018 2,390 'golden visa' applications were filed on behalf of foreign nationals seeking Cypriot naturalisation.

Limassol plans low-cost housing units

Plans by the Limassol Municipality to build 500 low-cost housing units in Ayios Nicolaos and Ayios Ioannis to address the high rent problem in the city have been supported by the Interior Ministry.

September 2018 building permits

Official figures released by the Cyprus Statistical Service report that 588 building permits were authorised in September 2018 for the construction of new homes, civil engineering projects, etc.

Small rise in November property sales

There was a small rise in the number of Cyprus property sales in November 2018 compared to November last year according to figures published today by the Department of Lands and Surveys.

Property news in brief

Over the past week a number of news reports concerning property in Cyprus have appeared in the local media about non-performing loans (NPLs), recent property deals and the bank of Cyprus.

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.

Agreement close on Airbnb type rentals

Agreement on a bill designed to regulate and tax rental income on Airbnb type rentals is close but a key question remains concerning short-term letss of apartments in residential areas.

Is it safe to buy property in Cyprus?

"Is it safe to buy property in Cyprus?" is a question I'm constantly being asked and although changes to the law in recent years have improved the situation, some buyers are still at risk.

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.

453 new homes in August

The number of building permits for the construction of new homes in Cyprus rose 85.7 per cent in August 2018 compared to the corresponding month last year providing for the construction of 453 new homes.

Cyprus let off the hook

Following Cyprus' action to abrogate the law requiring lawyers to charge a minimum fee for out-of-court work, the EC has closed infringement proceedings against Cyprus and an antitrust investigation.

Property sales up 6% in October

The number of property sales in Cyprus continued to rise in October with the number of sales contracts deposited at Land Registry Offices across the Republic up 6 per cent compared with October 2017.

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.