Latest Headlines

Reports written by Nigel Howarth

Airbnb-style rentals bill moves a step closer

A bill to regulate Airbnb-style short-term rentals moved a step closer following meetings between the heads of Airbnb and booking.com and the Deputy Minister of Tourism Savvas Perdios.

Weakening property sales

Cyprus property sales have fallen significantly following the introduction of stricter criteria for acquiring passports in May highlighting the real market’s dependence on the ‘citizenship by investment’ scheme.

Rise in property sales led by local & EU buyers

The rise in property sales during September was led by local and overseas buyers from the EU who between them purchased 47 (10%) more properties than September 2018 say official figures.

Marginal rise in property sales

September saw a small rise in Cyprus property sales compared to the corresponding month last year according to the latest figures released by the Department of Lands and Surveys.

Poles with loans in Swiss francs win EU case

Around half a million Polish homeowners with Swiss franc loans have won their case in the European Court of Justice, which has ruled they can ask the Polish courts to convert their loans into the Polish Zloty.

RICS Cyprus property price index Q2 2019

The RICS Cyprus Property Price Index for the second quarter of 2019 reports that residential prices for houses and apartments increased by 1.2% and 1.4% respectively on a quarterly basis.

Land Registry values down while prices rise

The Cyprus Land Registry has come under attack over its valuation of properties on the island and while its 2018 valuations are lower than those in 2013, property prices continue to rise.

Rise in new homes building permits

Building permits authorised in Cyprus during June 2019 provided for the construction of 812 new homes, compared with 506 in June 2018 according to official figures published by the Cyprus Statistical Service.

August property sales fell 10 per cent

The number of property sales in Cyprus during August fell 10 per cent compared to the corresponding month last year according to the latest figures released by the Department of Lands and Surveys.

EC asks Cyprus to comply fully with EU law

The European Commission asked Cyprus to fully comply with EU rules designed to protect consumers from unfair contract terms on 25 July, giving Cyprus two months to reply to the arguments raised.

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