Real Estate News
Cyprus Investment Programme is at risk again
The Cyprus Investment Programme, which allows wealthy foreigners to obtain an EU passport for investments of at least 2 million euros, was again subjected to criticism from the European Union, but the government refuted their demands.
16-story tower in Limassol
In Limassol, in the Germasogeia area, it is planned to build a 16-story tower 71.7 m high called “Mandarin Park, which is a mixed development of commercial and residential real estate.
Property sales rise among local and EU buyers
A 12% increase in property sales during 2019 was due to Cypriots and EU citizens, while the number of sales to non-EU citizens remained stable.
Growth in construction continues
Strong growth in the Cyprus construction sector continued in November with permits for the construction of 909 new homes, according to official statistics from the Cyprus Statistical Service.
Reconstruction of the port and Marina Larnaca
The restructuring of the port of Larnaca and the marina with 600 seats is expected to begin shortly after the agreement reached between Cypriot and Israeli investors after years of negotiations.
Marina Agia Anapa will start operation soon
Ayia Napa Marina is at the final stage of construction and is preparing to start work with the approach and berthing of the first boat on January 27, which will mark the beginning of pilot work on the pier.
Cyprus Property Sales Fall in February
Real estate sales in Cyprus fell 11% in February 2020 compared to February 2019 and 7% in the first two months of the year, according to official data from the Department of Land and Research.
Slight increase in property sales
According to the latest official figures released by the Land Department, in October there was a slight increase in property sales in Cyprus compared to the corresponding month last year.
Cruise ship facilities in Paphos Marina
The Cabinet of Ministers gave the green light for a study that will focus on the possibility of building facilities for cruise ships as part of the alleged Paphos Marina in Kissonerga Potima Bay north of the city.
Slight fall in real estate sales in November
According to the latest official figures released by the Land Department, in November real estate sales in Cyprus fell slightly compared to the corresponding month last year.
Cyprus Property Market Overview
A review of the PwC real estate market in Cyprus for the first half of 2019 shows that a quarter of all real estate transactions took place in April, shortly before more stringent criteria were introduced for those who apply for citizenship.
Passports: indicator for real estate.
According to the recently published financial report of the Central Bank of Cyprus, more stringent criteria introduced earlier during the year to obtain a Cypriot passport have affected the sale of real estate.