Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Lizzy Ioannidou

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Warnings of further rent rises in Limassol

Further rent rises in Limassol are expected as thousands of construction workers needed to complete numerous projects will require accommodation in or near the city pushing rents up even higher.

EC closes infringement case on Limni project

The European Commission has effectively given the green light to the contentious Limni bay development project by closing infringements proceedings against Cyprus on Thursday.

Limni golf resort is now down to EU

Although planning permits for the controversial multi-Euro golf course and resort complex at Limni have been issued, the EU has yet to receive details to ensure they comply with their environmental recommendations.

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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.