Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020
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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.
real-estate-market-prediction

The Cyprus property market will rebound in 2021

The new reality since the lockdown in Cyprus is that all sectors of the real estate market have come to a standstill and many transactions already agreed in principle or even midway through have been frozen or postponed.

Cyprus housing market set to slowdown

The housing market in Cyprus is set to slowdown in the medium term following a reduction in the number of sale contracts deposited at Land Registry offices during the second half of 2019.

Citizenship applicants are high-risk

The Institute of Certified Public Accountants of Cyprus (IPAC) has cautioned its members that "Investment citizenship programs carry inherent risks relating to money laundering, corruption, bribery and tax evasion."

What next for the Cyprus real estate market?

The Cyprus real estate market is changing faster than ever and its predicted that the positive trend will continue as the market is constantly developing and becoming more attractive to global investors.

Cyprus passports really are ‘golden’

A new index shows that Cyprus passports really are 'golden' ranking its power at eight as its holders can visit 166 countries including 122 visa-free and 44 by obtaining visa on arrival.
real-estate-market-prediction

Instability expected in Cyprus real estate sector

Although it's too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report.

Citizenship scheme reaching saturation point

Cyprus' property developers and other stakeholders are concerned over the future of the construction industry as the Citizenship for Investment Scheme appears to be reaching saturation.
EU mortgage rules adopted

Cash Was King!

Cash Is King is a slang term reflecting the belief that money (cash) is more valuable than any other form of investment tool. This phrase is typically used when prices in the securities market are high.

Chinese investors in €30 million property deal

Chinese investors have secured land amounting to 32,271 sqm. in the Tsiflikoudia area of Limassol to the north of the marina in a €30 million deal with the Bank of Cyprus' Real Estate Management Unit (REMU).

New criteria for passport scheme

New criteria for those wishing to obtain a Cyprus passport through the much criticised citizenship by investment scheme will come into force next week and will include due diligence checks on applicants.

Chinese investors moving beyond citizenship scheme

Although initially attracted to Cyprus by the 'citizenship by investment' scheme, a banking source has said that we are seeing a decline in one-off buys with east Asian investors now focussing on investments requiring financing.
china overseas property exhibition

Chinese investors still wooed by Cyprus passports

The South China Morning post reports that Chinese investors are seeking Cyprus passports despite the stricter criteria introduced last month for those seeking Cypriot citizenship.

Cypriot passport investment applications falling

New applications for Cypriot passports under the island's 'citizenship-by-investment scheme' (aka passport-for-cash scheme) are falling, possibly as a result of the stricter rules introduced in May.

Cyprus real estate market review 2018

In its annual Cyprus real estate market review, PwC reports that the transaction value of the residential property sector reached €3.1 billion, which accounted for 73 per cent of the market total.
Cyprus joins EU excessive deficit watchlist

Cyprus strong growth momentum continues but…

Cyprus' economic expansion is set to remain robust, driven by domestic demand, but risks are tilted to the downside, according to the European Commission's spring 2019 economic forecast.

Rush for Cypriot passports before rules tighten

Foreigners are rushing to acquire Cypriot passports via the citizenship-by-investment scheme before the rules are tightened on 15th May according to a report in the Greek daily Phileleftheros.

Highest property prices and rents in Limassol

Limassol is where rental and property prices are the highest in Cyprus according to a recent report by DANOS International Property Consultants (DANOS/BNPPRE) due to tourism and Airbnb-type rentals.

Cyprus real estate investment: prospects & risks

The figures, trends and the state of the Cyprus real estate market over the last few years are a clear indication that Cyprus is becoming more and more interesting for property investors.
Tax cheat

Calls to end Golden Visa schemes

European lawmakers have urged member states to end their Golden Visa schemes as their advantages do not offset the serious security, money laundering and tax evasion risks they present.

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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.

You have insurance but are you insured?

The heavy winter rains have resulted in many insurance claims but as many have found to their horror, although their insurance premium has been paid, they discover that they're not insured when they make a claim.