Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 11th July 2020

Alan Lawton

Non-performing bank loan restructuring

Reports suggest that the Cyprus banks are restructuring unpaid loans to avoid them having to be classified as ‘non-performing’ as required under the Basel II Accord.

Cyprus property prices down

As the property crisis continues to worsen, prices of residential properties in the urban centres have dropped by more than 10%, while prices of summer residences have fallen between 30% - 40%.

Fears of more unemployment in construction industry

The Chairman of the Cyprus Contractors Federation, Sotos Lois, fears that unemployment in the construction industry could rise to 20,000 next year.

Cyprus slips into recession

According to the latest “flash” estimates from the Statistical Service, Cyprus slipped into a recession during the second quarter of 2009.

Property prices and gross rental yields

Cyprus property investors should expect to pay in the region of €2,004/sq.m for a 120sq.m apartment in Paphos and expect to receive a gross rental yield of 2.83% according to the latest figures published by the Global Property Guide.

Cyprus property sales stage slight recovery

Figures published by the Land Registry report that the number of properties sold during June fell by 45.7%, taking the first six months decline to 58.3% compared to last year.

Qatari investment deal collapses

It seems that the Qatari plans to invest in the development of a €500 million mixed-use real estate project in Nicosia may have collapsed

Cyprus building permits March 2009

It is difficult to draw any conclusions from the CYSTAT figures as developers in Cyprus often start construction work before the authorities have issued the building permits.

Building permit numbers up

From the CYSTAT figures it is impossible to say whether the number of homes being built in Cyprus is increasing or not. It is common knowledge that developers build properties illegally

Cyprus rent increase ceiling lowered

A decision by the Council of Ministers has lowered the ceiling on rent increases. The Cyprus Land and Property Owners Association (KSIA) said this was an unfair decision and one that the government had not discussed with the association.

Cyprus building permits Jan 2009

According to the latest figures on building permits, published by the Cyprus Statistical Service, investment activity in the construction sector is showing signs of recovery.

Property prices in Cyprus will stop surging

A study prepared by the Economic Research Unit anticipates that the surges in Cyprus property prices will stop in the next few years.

Cyprus government revenues cut by property market crisis

The unprecedented crisis in the Cyprus property market and the problems faced by businesses have pushed government revenues down sharply.

Low cost property developments in Cyprus

The Cyprus Land Development Corporation is planning to build 500 additional low cost properties in Cyprus and to buy land from property developers.

Paphos building contractors sound alarm bells

Building contractors in Paphos sounded the alarm for increased unemployment in the construction sector due to lower activity. In his statements to StockWatch, Chairman...

Qatari Diar Real Estate and Cyprus sign deal

Qatari Diar are delighted to have signed this Memorandum of Agreement. We believe that this project highlights the strong relationship between our two countries and we look forward to working in Cyprus on the development.

Encouraging better land use

The Cyprus Government seems determined to introduce measures to encourage better land use in urban areas. Over the next few weeks the Finance Ministry is...

Cyprus property tax receipts plummet

ACCORDING to press reports, a decline in Cyprus property prices has resulted in a spectacular fall in Government revenue. During the first four months of...

Cyprus building permits continue to fall

THE number of building permits issued for the construction of property in Cyprus continues to decline. According to the Cyprus Statistical Service, CYSTAT, the number...

Still waiting for Cyprus justice

CYPRUS property developer Costas Papaioannou was arrested and remanded in custody for five days on suspicion of obtaining money from buyers with intent to...

Most Read

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.