Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

David Crowther

Property sales to non-Cypriots improve slightly

Compared to previous months, the number of non-Cypriots buying property in November improved slightly. But as December is normally the quietest month for property sales, it seems unlikely that the total number of properties sold to foreigners will exceed 1,900 this year.

Situation is critical says Cyprus Central Bank governor

Long term reforms are urgently needed to buffer the critical economic problems plaguing the island, the governor of the Cyprus Central Bank said yesterday.

Cyprus economy contracts in third quarter

The contraction of the Cyprus economy during the third quarter of 2009 is mainly due to negative growth rates in construction, hotels and restaurants, and negative performance in manufacturing, trade and transport services according to the latest government estimates.

Fall in tax revenue attributed to Cyprus property market collapse

The drop in Cyprus tax revenue collections is entirely attributable to the collapse of the property market and it raises concerns that if foreign demand fails to recover, the government will lose a significant source of revenue permanently.

Building permit numbers for residential property improve

Figures released yesterday by the Cyprus Statistical Service (CYSTAT) show that building permits for the construction of 900 residential properties were authorised in August 2009; down just 3.3% on the 931 authorised in August last year.

Improvement in Cyprus direct tax revenues

There are signs that the Cyprus government’s efforts to avoid the island’s budget deficit exceeding 3% of its GDP, which would result in EU Supervision, are bearing fruit with Immovable Property Tax collections almost doubling during September.

Building permits for Cyprus residential property falls

Figures released today by the Cyprus Statistical Service (CYSTAT) show that building permits for the construction of 1,161 residential properties were authorised in July 2009; down by nearly 40% on the 1,925 authorised in July last year.

Cyprus property sales to foreign buyers nose-dives

The number of non-Cypriots buying property on the island has gone into freefall. The latest figures released on Friday by the Land Registry indicate that the message issued by the Interior Minister in July has failed to reassure foreign real estate investors.

Cyprus marina progress reports

Following the news item on the marina planned for Larnaca, progress reports on the marinas planned for Ayia Napa, Limassol and Paphos have recently been published by Stockwatch.

Cyprus construction sector shows signs of recovery

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 2,125 residential properties were authorised in June 2009; up 28% on the 1,659 authorised in June last year.

Communal service charges

Is it correct that communal service charges are based on the on the size of the building/flat excluding gardens, open verandas etc?

Residential property construction slows

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 1,191 residential properties were authorised in May 2009; down by more than 30% on the 1,715 authorised in May last year.

Building permits for residential properties down

According to the latest figures from the Cyprus Statistical Service (CYSTAT) building permits for the construction of 1,252 residential properties were authorised in April 2009; down by almost a quarter on the 1,658 authorised in April last year.

Cyprus bank loans, deposits and liquidity

Over the past year, Cyprus banks granted loans valued at more than more than three times the amount they received in deposits according to figures released by the Central Bank of Cyprus.

Cyprus banks still face liquidity problems

In May, the “liquidity level” in the Cyprus banking system (deposits minus loans) stood at just €1.8 billion against €1.99 billion in April and €8.5 billion a year ago.

Housing loans highest in euro area

According to the European Central Bank, Cypriot banks charge the highest interest rates for housing loans in the euro area. The gap between the average housing loan in Cyprus and that of other countries in the euro area is 239 base points.

Cyprus property sales continue to fall

According to the latest Cyprus Land Registry figures, the number of contracts for the sale of property fell by almost 55% in April this year compared to last.

Row erupts over Dolphin payout to Aristo

Dolphin Capital said it would pay €50 million in cash and the balance of €42.7 million through the issue of 133.1 million shares in Dolphin Capital to Aristodimou or his companies, based on an issue price of 30 pence a share.

Property tax revenues crash

The amount of Capital Gains Tax collected, the majority of which results from the sale of property, crashed to just €15.1 million from the €90.1 million collected during the same period last year; a drop of more than €75 million

Property businesses expect increased domestic demand

Those in the property business anticipate that improvements in market conditions may lead to an increase in domestic demand.

TOP AUTHORS

1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
89 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
2 POSTS0 COMMENTS
5 POSTS0 COMMENTS
1 POSTS0 COMMENTS
13 POSTS0 COMMENTS
34 POSTS0 COMMENTS
6 POSTS0 COMMENTS
9 POSTS0 COMMENTS
14 POSTS0 COMMENTS
2 POSTS0 COMMENTS
75 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
25 POSTS0 COMMENTS
4 POSTS0 COMMENTS
1 POSTS0 COMMENTS
3 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
6 POSTS0 COMMENTS
25 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
442 POSTS0 COMMENTS
64 POSTS0 COMMENTS
1 POSTS0 COMMENTS
13 POSTS0 COMMENTS
1 POSTS0 COMMENTS
3 POSTS0 COMMENTS
1 POSTS0 COMMENTS
7 POSTS0 COMMENTS
6 POSTS0 COMMENTS
73 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
7 POSTS0 COMMENTS
8 POSTS0 COMMENTS
32 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
13 POSTS0 COMMENTS
1 POSTS0 COMMENTS
3 POSTS0 COMMENTS
1 POSTS0 COMMENTS
5 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
18 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
0 POSTS0 COMMENTS
3 POSTS0 COMMENTS
16 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
13 POSTS0 COMMENTS
38 POSTS0 COMMENTS
4 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
4 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
71 POSTS0 COMMENTS
22 POSTS0 COMMENTS
2 POSTS0 COMMENTS
34 POSTS0 COMMENTS
4 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS
1 POSTS0 COMMENTS
2 POSTS0 COMMENTS
1 POSTS0 COMMENTS

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.