Property News
Cyprus Property market review 2018
In its annual review of the Cyprus property market, PwC reports that the value of transactions in the residential real estate sector reached 3.1 billion Euros, which accounted for 73% of the total market volume.
Completion of construction of our project Olive Garden Residence!
We are pleased and proud to announce the completion of the construction of our luxury residential complex in Limassol - Olive Garden Residence!
Real estate: trust the numbers, not rumors
There is no doubt that the housing market in Cyprus is seriously affected by the global financial crisis and its own banking debt crisis.
Further rent increase in Limassol
A further increase in rents in Limassol is expected, as thousands of workers building numerous projects will need housing in or around the city, which will increase rents even higher.
Changes in the Cyprus Investment Program
On February 13, the Government of the Republic of Cyprus approved a number of changes in the Cyprus Investment Program:
Building Permits in November
Between January and November 2018, 5,929 building permits were issued, compared to 5,291 in the corresponding period in 2017; an increase of 12.1%, while their total cost and area increased by 20.9% and 17.1%, respectively.
New high-rise in Limassol
The construction of the 197-meter Aura tower in Limassol will be at the present site of the Debenhams Olympia shopping center on the seafront road in Limassol.
The sharp rise in property sales in February
February showed a sharp increase in real estate sales compared to 2018, according to official data published by the Department of Land Resources and Research.
Building Permits in December 2018
The total number of building permits issued in Cyprus in December 2018 was 479 compared with 437 approved in December 2017 (an increase of 9.6%).
Reduced VAT on land purchased for primary residence
The Government is preparing a bill exempting from payment of the full 19 per cent VAT, purchases of undeveloped land for the purpose of building on it an owner-occupied primary dwelling.
Property sales up 6% in October
The number of property sales in Cyprus continued to rise in October, the number of contracts deposited to the Land Regisrty offices increased by 6% compared with October 2017.
Cyprus cities for real estate investments
Limassol and Paphos are 2 cities that attract the majority of real estate investments (70% of foreign buyers), but Nicosia is gaining momentum, according to Fileleferos.