Real Estate News
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.
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.