Magnificent ecology, the sea and the sun are constant factors in the growth of real estate prices in Cyprus. This market is constantly growing, thanks to which the capital invested in housing is also constantly increasing. It is also necessary to take into account the fact that there is less and less land for development on the island. Accordingly, there are no objective reasons for a decrease in demand.
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Eden City: Paradise Project
Atum Developments is one step closer to bringing to fruition its mammoth development project in Paphos, having successfully submitted its applications for licensing to the Ministry of Interior.
Strong growth in property sales
The strong growth in Cyprus property sales continued in February with the number of properties sold rising in all districts (with the exception of Larnaca) according to official figures.
Permits for new homes
The number of new homes in Cyprus for which building permits have been issued fell by 18.1 per cent in December 2017 compared to December 2016 according to the Cyprus Statistical Service.
Limassol in top 100 world cities
Limassol is amongst the top 100 cities of the world according in the ‘Quality of Living Index’ produced by Mercer, one of the world’s largest HR consultancy firms, that evaluated local living conditions in more than 450 cities.
Cyprus Property Transfer Fees and VAT
MPs in Cyprus are planning to revise Property Transfer Fees and the VAT paid on land sales to eliminate distortions in the Cyprus property market, which they believe is adversely impacting competition.
High-end Cyprus property sales boom
PwC Cyprus reports that 260 high-end properties in Cyprus (in excess of €1.5 million) were sold during 2017, which contributed to the wider recovery of the real estate industry and the rise in prices for the first time in several years.
More high-rise towers for Limassol
A further five high-rise towers are set to line the Limassol coast road; the ‘Trilogy’ project by Cybarco next to Enaerios and the ‘Blue Marine’ project by Leptos next to the Limassol marina.
Sales of apartments in Olive Garden Residence are growing rapidly!
Two months after the announcement of the start of sales in the magnificent project Olive Garden Residence, more than 50% of the apartments were successfully sold.
2017 a better year for property sales
For the fourth consecutive year Cyprus property sales rose during 2017 according to the latest official statistics published earlier today by the Department of Lands and Surveys in Nicosia.
Paralimni marina contracts signed
Contracts for the construction of the Paralimni marina have been signed; with an estimated capacity of 300 vessels and at a cost of €110 million, the marina is expected to be fully operational by mid-2021.
3 reasons to buy property in Cyprus
Property owned by foreigners in Cyprus is protected by the law
Property rights in Cyprus are strictly respected, therefore there are now reasons to worry about your capital. Even in the event of political changes, the status of investors remains untouchable and is guaranteed by the government.
Owning a house or apartment on an island is not only an indicator of status
Owning a house or apartment on an island is not only an indicator of status. This is an opportunity to diversify investments that help you to get a stable income and be sure that your capital is safe.
Minimum taxes on the sale and acquisition of real estate
In Cyprus, unique taxation conditions have been created to minimize indirect costs. An additional bonus is the possibility of obtaining a residence permit. If you are interested in the possibility of a change in status, we recommend that you study our website or contact managers.