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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Changes in rent laws
The House legal committee on Wednesday discussed proposals to strengthen property owners’ rights to evict tenants who refuse to pay their rent.
Continuing rise in property sales
The number of property sales in Cyprus continued to rise in September with the number of sales contracts deposited at Land Registry Offices across the Republic up 14 per cent compared with September 2017.
Cyprus house prices rise 0.6 per cent
The Cyprus house price index (HPI) rose by 0.6 per cent in the second quarter of 2018 and by 1.2 per cent on an annual basis according to a preliminary estimate by the Cyprus Statistical Service (CYSTAT).
50 million lost due to delays in issuing planning permits
The state is losing €50 million per year because of delays in the issuing of planning permits, according to the Cyprus Technical Chamber.
Four more high rise buildings in Limassol
Pafilia property developers are planning to build four high rise residential towers in Limassol of 43, 38, 31 and 25 storeys next to Limassol Municipal gardens, the tallest of which will reach 173 metres.
Speeding up issue of Title Deeds
The Cyprus government is ready discuss ways to reduce the time taken to issue Title Deeds, which has tarnished the reputation of Cyprus as a safe place to buy property by overseas investors.
Small rise in Cyprus property sales
Although the number of property sales in Cyprus continued to rise in June according to the number of sales contracts deposited at Land Registry Offices, only a marginal rise was reported compared with June 2017.
No tax on mortgaged property sales
Those selling their mortgaged property in Cyprus to reduce or repay their mortgage debt will be exempt from paying capital gains, income tax, special defence contributions, as well as stamp duty and transfer fees.
Larnaca Tower plans progressing
It looks as if a high-rise development ‘Larnaca Tower’ will soon get underway in the seafront area of Phinikoudes if the paperwork submitted by the Russian investor Nikolai Potapenko is approved by the authorities.
Cyprus property sales up 21% in July
The number of property sales in Cyprus continued to rise in July with the number of sales contracts deposited at Land Registry Offices across the Republic up 21 per cent compared with July 2017.
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.