Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 6th August 2020

Yearly Archives: 2020

Property sales in Cyprus improving

The number of property sales in Cyprus is improving following the government's decision to introduce an interest rate subsidy for new housing loans granted from 1st March 2020 until 31st December 2020.

Tender awarded for Larnaca port and marina

The tender to develop the Larnaca port and marina has been awarded to Eldeman Holding BV and Alexandrou Corporate Services, comprised of Israeli and Cypriot interests.

Parliament to vote on tougher citizenship rules

The House interior affairs committee has wrapped up discussing new regulations to tighten up the citizenship-by-investment scheme, flagged by the EU as a potential money-laundering risk.

Paphos undergoes multi-million facelift

Paphos is in for a facelift with its fair share of new developments while getting smarter with digital projects worth tens of millions of euros nearing completion or in the making.

Real estate measures to counter the impact of Covid-19 in Cyprus

The Cyprus real estate market is held hostage by the coronavirus; its performance depends on the duration of the virus, a vaccine, and how quickly we apply real estate measures.

Pissouri homeowners say government decision ‘long overdue’

Pissouri homeowners whose homes have been damaged and destroyed by the landslide since 2012 say it's very difficult to have any confidence after eight years of no action.

Real estate big money not reaching Cyprus

European real estate investment has become cautious, and is focusing on northern Europe, which it perceives as more stable, explains the director of a London-based private equity firm.

Hope for Pissouri landslide victims

The Interior Ministry has announced that work will start in 2021 to stabilise the landslide in Pissouri, which has damaged and destroyed many dozens of properties in Limnes and other areas.

Property developer fined for unfair commercial practices

Larnaca based property developer Stelios Georgiou Property Limited has been fined €70,000 by the Cyprus Consumer Protection Service for breaching the Unfair Commercial Practices law of 2007.

Cyprus real estate sector performance insights

The Cyprus real estate sector contributed €3.24 billion to the Cypriot economy in 2019, which is higher than the combined contribution of the Financial and Insurance activities and the Manufacturing sectors.

Greens hit out at local property developer

The Greens have hit out at a "scandal brewing in Paphos", with roots in the past, concerning land earmarked for green areas, which the developer wants to sell to the Bank of Cyprus to clear debts.

COVID-19 hits new homes in Cyprus

Permits for the construction of new homes in Cyprus fell by more than a half during April; the second month during which the COVID-19 containment measures continued to apply.

Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million.

Corrupt lawyers continue to plunder estates

Corrupt lawyersin Cyprus continue to plunder the estates of their deceased clients by calculating their fees for administering estates on the Cyprus Bar Association's 'Minimum Fee Regulations', which were abolished in 2018

Cyprus house price index up 2.5 per cent

The Cyprus house price index rose by an average of 2.5 per cent in the first quarter of 2020 compared to the previous quarter according to official figures from the Cyprus Statistical Service (CYSTAT)

MPs commit to expedite citizenship bills

MPs have committed to expediting the bills and regulations aimed at improving the transparency of the citizenship-by-investment programme, so that the items can be voted on before the House breaks for the summer recess.

Decision soon on Pissouri homes devastated by landslide

The government said Monday it will soon have in hand the recommendations of experts concerning the landslide in the area of Pissouri, which has seriously damaged dozens of properties throughout the years.

Most Read

Property sales in Cyprus improving

The number of property sales in Cyprus is improving following the government's decision to introduce an interest rate subsidy for new housing loans granted from 1st March 2020 until 31st December 2020.

Tender awarded for Larnaca port and marina

The tender to develop the Larnaca port and marina has been awarded to Eldeman Holding BV and Alexandrou Corporate Services, comprised of Israeli and Cypriot interests.

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