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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December property sales decrease
According to the Land Department, the number of sale contracts in December 2018 decreased by 48% compared with December 2017.
Property prices in Cyprus increased by 0.2%
The Cypriot Statistics Service (CYSTAT) announced that prices for houses and apartments in Cyprus increased by an average of 0.2% in the third quarter of 2018 compared to the second quarter in the latest housing price index (HPI).
The construction of the Larnaca municipal market will start in September
Larnaca mayor Andreas Vyras announced that the construction of the Larnaca municipal market will start in September.
Property sales up 14% in August
The number of property sales in Cyprus continued to rise in August with the number of sales contracts deposited at Land Registry Offices across the Republic up 14 per cent compared with August 2017.
Bill to tax short-term rents
According to the CTO, 80% of tourists, visiting Cyprus, stay in hotels, 20% (about 600 thousand people) - live with relatives, friends or in rented apartments, villas, etc.
New home permits up 32.8 per cent
The number of building permits for the construction of new homes in Cyprus rose 32.8 per cent in June 2018 compared to the corresponding month last year providing for the construction of 506 new residential homes
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.
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.