Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 9th July 2020

Nigel Howarth

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.

Annual property sales hit eleven year high

Property sales in Cyprus during 2019 topped 10,000 to reach the highest number recorded since 2008 according to official statistics published this morning by the Department of Lands and Surveys.

Overseas property sales drop 15%

Sales of property in Cyprus to the overseas market fell 15% in November in a continuing trend that started in June following the introduction of stricter criteria for foreigners seeking Cypriot citizenship.

Top ten Cyprus property stories in 2019

Cyprus property news has attracted more than three quarters of a million visitors in 2019 and here's a summary of the top 10 most popular stories, which include news and articles on a broad range of subjects.

Cyprus: Surge in new home construction

Building permits authorised in Cyprus during September 2019 provided for the construction of 1,114 new homes, compared with 576 in September 2018 according to official figures published by the Statistical Service.

November saw slight fall in property sales

There was a slight fall in Cyprus property sales during November compared to the corresponding month last year according to the latest official figures released by the Department of Lands and Surveys.

EC wants answers to risky citizenships

The European Commission has asked Nicosia whether it would investigate "possible misconduct" in the scandal involving the granting of Cypriot citizenship of 26 high-risk individuals.

Names of 25 citizenship investors revealed

The names of 25 of the 26 investors from whom Cyprus is in the process of revoking citizenship have been named; nine Russians, eight Cambodians, five Chinese, two Kenyans and one Malaysian.

BoC to repossess non-Estia protected properties

The Bank of Cyprus (BoC) will repossess properties if their owners do not apply for protection under the Estia scheme; it's only received 487 applications from an estimated 2,500 eligible owners.

Court annuls Alpha Bank Cyprus fine

The Administrative Court has annulled a fine of €250,000 imposed on Alpha Bank Cyprus by the Cyprus Consumer Protection Service (CCPS) in October 2016 for unfair terms in its loan contracts.

Cyprus real estate market review

The PwC Cyprus Real Estate Market review for the 1st half of 2019 reveals that a quarter of all property transactions took place in April, just before stricter criteria were introduced for those applying for citizenship.

Paphos marina may have cruise ship facilities

The cabinet has given the green light for a study that will look into the possibility of building facilities for cruise ships as part of a proposed Paphos marina at Kissonerga Potima Bay to the north of the town.

Most Read

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.

Decision soon on Pissouri homes devastated by landslide

The government said Monday it will soon have in hand the recommendations of experts concerning the landslide in the area of Pissouri, which has seriously damaged dozens of properties throughout the years.