Latest Headlines

Reports written by Nigel Howarth

Conor O’Dwyer loses Supreme Court appeal

British man Conor O’Dwyer who has fought a 15-year battle with the Cyprus justice system has failed in his appeal to the Supreme Court against the 2012 verdict in a case filed by Christoforos Karayiannas and Son Ltd.

Strong growth in construction continues

The strong growth in the Cyprus construction sector continued in November with building permits authorised for the construction of 909 new homes according to official statistics from the Cyprus Statistical Service.

Twice as many property sales to non-EU citizens

More than twice as many property sales were made to non-EU citizens than EU citizens in January according to official statistics published by the Department of Lands and Surveys last Friday.

Is the Cyprus justice system broken?

Recent court cases have raised questions about the Cyprus justice system with a recent survey among Limassol-based lawyers highlighting their views on a number of key questions.

Disappointing start for property sales

Property sales got off to a disappointing start in the first month of the new decade, but stayed ahead of the number sold in January 2017 according to official figures from the Department of Lands & Surveys.

Stripping citizenship of 26 investors problematic

The process of stripping citizenship from 26 foreigners who obtained Cypriot passports is proving difficult as passports for naturalised investors cannot be revoked according to the law.

House prices not recovered from 2007 crash

House prices and rents in Cyprus have yet to recover to the levels last seen before the island’s property market bubble burst in 2007 according to the statistical office of the European Union (Eurostat).

House price index falls 5.9 per cent

The Cyprus house price index (HPI) fell by 5.9 per cent in the third quarter of 2019 but rose by 2.3 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

Permits authorised for 744 new homes

Building permits authorised in Cyprus during October 2019 provided for the construction of 744 new homes, compared with 617 in October 2018 according to official figures published by the Statistical Service.

Rise in property sales attributed to local & EU buyers

The 12 percent year-on-year increase in the number of property sales in Cyprus during 2019 was attributable to Cypriots and EU citizens, while the number of sales to non-EU citizens remained stable.

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