Real Estate News
Science and technology park in Limassol area
Thai company Wyncoast is the only bidder for development and operation of a science and technology park in the area of Pentakomo, near Limassol.
New unique residential complex in Limassol
Cyprus property market continues to show significant growth and interest from buyers, both local and foreign citizens. As the result of this interest there are many new construction projects all over the island.
Victoria Nuland is expected to visit Cyprus
The Assistant Secretary of State for European and Eurasian Affairs at the US State Department,Victoria Nuland, is expected to visit Cyprus this Friday, 14th of October. The aim of the visit is to express support on behalf of the US administration to the intensive settlement talks that are taking place between...
Construction of the Radisson Blu Hotel & Residence in Cyprus
“According to CNA a franchise agreement has been signed between The Rezidor Hotel Group and Quality Group, the owning company of the hotel, which foresees the construction of an upper upscale, 105-unit hotel and serviced apartments in the port area of Larnaca” the press release said.
Property transactions rose 23% in October!
According to Cyprus Business Mail property transactions in Cyprus rose an annual 23 per cent in October, three months after the parliament passed a tax breaks package aiming at boosting activity in the real estate sector.
Cyprus property index. Positive developments
Cyprus property index published by British experts from RICS for the last quarter of 2015 has displayed that despite the trend of general property price reduction across the island, the actual coefficient of decrease has been gradually declining.
Israeli tech saves the government of Cyprus
Few people know, that after the bail-out crisis of 2013, when thousands of house mortgages and property taxes remained unpaid, Cyprus was saved from bankruptcy by an unexpected hero in the face of the Tel-Aviv based Ofek Air and their unique aerial photography project.
26% property sales up for the last year in Cyprus.
During July a total of 625 contracts for the sale of commercial and residential properties and land were deposited at Land Registry offices across the island.
Discounts for Immovable Property Tax
The good news however is that this year there are significant discounts as high as 75 per cent.
For those who will settle their IPT ahead of the early-bird deadline, which is October 31, they will get a 75 per cent discount on their due amount, thus paying only 25 per cent of the total.
Property sales figures in Limassol have grown by 71%
September 2016 was marked by an increase in property deals all across the country. The biggest leap has been observed in Limassol, where the sales surged by 71%, followed by Larnaca (at 42%), Paphos (at 40%) and Nicosia (25%). Famagusta region has the lowest surplus estimated at 7%.
Construction sector in Cyprus is growing rapidly
The number of building permits authorised in August 2016 stood at 381 compared with the 312 authorised in August 2015; an increase of 22.1% according to official figures released by the Cyprus Statistical Service. Compared with August 2015, the total value of these permits rose 38.8% to €61.1million, while their...
Property transfer fees halved
Cypriot members of Parliament voted unanimously to cut Property Transfer Fees by 50 percent as part of a wider tax reform package designed to modernise the island’s property tax system and encourage economic activity in the real estate sector.