Property News

Property sales in Cyprus rose 18 per cent in October compared with the same month in 2016 with sales increasing in all districts (with the exception of Larnaca) according to official figures from the Department of Lands and Surveys.

A property market boom in Limassol has driven up rents as demand for housing has outstripped supply as more companies have moved to the area seeking accommodation for their staff.

The restrictions introduced by the Chinese government to reduce outbound investment in real estate have yet to impact property sales according to the Cyprus Chambers of Commerce and Industry (Keve).

The number of new homes in Cyprus for which building permits have been issued rose by 25.3 per cent in September 2017 compared to September 2016 according to the Cyprus Statistical Service.

One of the signature projects of Limassol beachfront road is reaching its final stage of completion with the construction actively progressing.

According to the announcement of the Minister of Energy, Trade, Industry and Tourism, Yorgos Lakkotripis, on the Cyprus radio Active on May 22, the number of tourists choosing Cyprus as a destination for their summer holidays is continuously growing.

For the 12th time, the Cyprus-Russian festival will be held in Cyprus. This annual event, celebrated by the residents and visitors of the island, brings together all lovers of Cypriot and Russian culture, artists, dancers, musicians and craftsmen from both countries.

According to the rating agency Moody's, the real estate market in Cyprus has shown a stable upward trend, which has also increases the demand for building permits on the island. Restoration of the construction and real estate sector, in its turn, positively affects the quality of assets of Cypriot banks.

Property sales in Cyprus rose 18 per cent in July compared with July 2016 with sales increasing in all districts (with the exception of Larnaca) according to official figures from the Department of Lands and Surveys.

A British couple from Somerset in England is offering their Paphos villa as a prize in a raffle with 10 per cent of hoped-for receipts going to three different charities in the UK.

The Cypriot authorities are considering the possibility of imposing restrictions on the issuance of passports to foreign investors.

According to the rating of the international consulting company Mercer, Limassol ranks 88th in the TOP-100 of the best cities in the world for quality of life.