Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday 11th August 2020

Property Statistics

COVID-19 hits new homes in Cyprus

Permits for the construction of new homes in Cyprus fell by more than a half during April; the second month during which the COVID-19 containment measures continued to apply.

Building permits falter in March

In March 2020, the month during which Cyprus introduced COVID-19 containment measures, 397 building permits were issued according to official figures.

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.

Building permits authorised for 907 new homes

The number of building permits authorised in Cyprus during January 2020 provided for the construction of 907 new homes; an increase of 27 per cent compared to January 2019 according to official figures.

Construction of new homes doubles

The number of building permits authorised in December 2019 provided for the construction of more than twice as many new homes as those authorised in December 2018 according to official figures.

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.

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.

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.

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.

TOP STORIES

Property sales to foreigners continue to fall

The number of Cyprus property sales to foreigners continued to fall in July with numbers down to 36 per cent on the numbers sold in July 2019 according to the Department of Lands and Surveys.

Property sales in Cyprus improving

The number of property sales in Cyprus is improving following the government's decision to introduce an interest rate subsidy for new housing loans granted from 1st March 2020 until 31st December 2020.

Tender awarded for Larnaca port and marina

The tender to develop the Larnaca port and marina has been awarded to Eldeman Holding BV and Alexandrou Corporate Services, comprised of Israeli and Cypriot interests.

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