Cyprus Property News magazine for overseas buyers & real estate investors

Thursday 9th July 2020

Nigel Howarth

Smaller rise in new home building permits

Building permits authorised in Cyprus during August 2019 provided for the construction of 525 new homes, compared with 453 in August 2018 according to official figures published by the Cyprus Statistical Service.

Overseas property sales fall

There was an overall reduction in Cyprus property sales to overseas buyers in October, with sales to EU citizens falling by 9 per cent, while sales to non-EU citizens fell by 25 per cent.

Small rise in property sales

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

New homes building permits on the rise

Building permits authorised in Cyprus during July 2019 provided for the construction of 1,028 new homes, compared with 632 in July 2018 according to official figures published by the Cyprus Statistical Service.

Reuters investigates Cambodia Cyprus connection

Reuters has investigated the link between Cambodia and Cyprus as part of a larger exposé into how relatives and allies of Cambodia's leader, Hun Sen, have amassed wealth overseas.

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.

House prices rise 0.8 per cent

The Cyprus house price index (HPI) rose by 0.8 per cent in the first quarter of 2019 and by 4.3 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).

Building permits authorised for 907 new homes

Building permits authorised in Cyprus during May 2019 provided for the construction of 907 new homes, compared with 541 in May 2018 according to official figures published by the Cyprus Statistical Service.

July property sales hold steady (update)

The number of Cyprus property sales during July was the same as the number sold in July 2018, with sales falling in all districts with the exception of Larnaca according to statistics from the Department of Lands & Surveys.

Group challenges Limassol high rise towers

The Ipatia Initiative group is taking court action to prevent the construction of the NEO high rise project in Limassol following an independent evaluation of the buildings on their quality of life and the project's environmental impact.

Non-EU citizens residence permits

In 2017, Cyprus granted residence permits to 18,971 non-EU citizens, according to figures published by Eurostat on Monday, with the majority being granted to citizens of India and Russia.

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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.