Real Estate News

Property sales in March increased 20 percent compared to the corresponding period last year according to official statistics published earlier this week by the Department of Lands and Surveys.

Registered owners of property who pay their annual Immovable Property Tax for 2013 to the Inland Revenue Department before the 31st August 2013 will receive a 10 per cent discount.

A Cypriot MP has tabled a bill for discussion at the House Finance Committee requiring property buyers to pay Immovable Property Tax even though they do not have the Title Deeds to the property they have purchased.

Over the coming weeks a draft legislation to extend the deadline for the payment of property taxes until November 15 will be sent to the Cabinet of Ministers. However, the tax rate will remain unchanged.

A US-Israeli partnership signed a landmark deal recently to build a liquefied natural gas plant on Cyprus to exploit the island’s untapped energy riches.

Property owners (those who have titles where their names indicated) will receive a notification saying that they must to pay the Immovable Property Tax by September 15.

On August 20th the Cabinet has decided to release owners of real estate, which cost is less than 5000 euros at 1980 prices, from paying the new tax.

THOSE WHO have yet to pay their Immovable Property Tax (IPT) should scramble to do so before the last deadline Thursday.

The Cyprus government has accepted an offer by the UK to assist in efforts to resolve the title deed and numerous property issues faced by home buyers of all nationalities in Cyprus.

Anyone under the age of 25 who is holding the Permanent Residence Permit (PRP) through the purchase of a property from his/her parents, can continue to be resident of Cyprus after the age of 25 without buying a property.

While Europe and Russia see one of the coldest winter in last years, visitors and residents of Cyprus continue to enjoy the sunny weather.

Cybarco Development LTD introduce you a new project, The Oval.