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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Cyprus Property Market Overview
A review of the PwC real estate market in Cyprus for the first half of 2019 shows that a quarter of all real estate transactions took place in April, shortly before more stringent criteria were introduced for those who apply for...
Passports: indicator for real estate.
According to the recently published financial report of the Central Bank of Cyprus, more stringent criteria introduced earlier during the year to obtain a Cypriot passport have affected the sale of real estate.
Annual real estate sales hit eleven-year highs
Real estate sales in Cyprus in 2019 exceeded 10,000, reaching the highest rate recorded since 2008, according to official statistics published by the Land Department.
Airbnb Rental Law Enacted
MPs have passed a bill to regulate rental housing by owners through online platforms such as Airbnb and booking .com, which deal with both new and existing housing.
Building Permits for new homes
According to the Cyprus Statistical Service, building permits are a key indicator of future activities in the construction sector.
Changes in prices for Cyprus property for the second quarter of 2019
RICS in Cyprus reports that house and apartment prices across the island rose 1.2% and 1.4%, respectively, for the first quarter of 2019.
Real estate sales in August fell 10%.
In August, real estate sales decreased by 10% compared to August 2018, when sales fell in all market segments, with the exception of sales to EU citizens, which grew by 3% according to official data published by the Department of Land...
Property sales to local and European buyers
Real estate sales in September increased slightly by 1% compared to September 2018.
Chinese investors make a deal for 30 million euros
Chinese investors acquired a plot of land of 32,271 square meters. in the Tsiflikudiya area in Limassol north of Limassol Marina worth € 30 million with the Bank of Cyprus.
New building permits in Cyprus on the rise
The total number of building permits approved in Cyprus in July 2019 was 743, compared to 589 approved in July 2018; an increase of 26.1% according to official figures published by the Statistical Service of Cyprus.
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.