Cyprus Property News
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Land Registry portal offline until mid-April
The Land Registry’s online platform is still knocked out, following the cyber-attack some ten days ago, with officials saying it may take several weeks before technicians...
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Structural Integrity Certificates are essential
The recent earthquakes in neighbouring countries, as well as the aftershocks, felt in Cyprus, have brought to the forefront what we have been saying for years: the...
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Construction material prices hit new high
The price index of construction materials rose 10.73 per cent in February on an annual basis and increased by 0.06 per cent compared with January according to the Cyprus...
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Sales to non-EU citizens doubles
Property sales to non-EU citizens more than doubled in the first two months of 2023 compared to the same period in 2022 according to official figures from the...
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Mortgage-to-rent scheme launched
The Mortgage-to-Rent scheme, the latest lifeline thrown to defaulted borrowers, is going ahead, as KEDIPES, the state-owned Asset Management Company, announced its...
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Has timeshare in Cyprus had its day?
A Paphos holiday timeshare resort is closing at the end of the month with owners who invested thousands losing out. Hundreds of disgruntled timeshare owners at Paradise...
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New Jointly-owned building law soon
New Interior Minister Constantinos Ioannou wants an amended law on jointly-owned-buildings to come into force the soonest possible so that properties are properly...
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Russians top list of foreign property buyers
Russians were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data from the Department of Lands and...
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Evaluation of Cyprus earthquake preparedness
The House interior committee will meet next week to evaluate the state’s earthquake response preparedness and to further discuss the stability and quality of buildings....
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Law firms fined in passport probe
A total of 26 Cypriot law firms have been audited by the Cyprus Bar Association in connection with the disgraced golden passport scheme , with five found guilty and...
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What to expect for the real estate sector in 2023
The positive trend in the sales of real estate appears set to continue during 2023, facilitated by foreign buyers, originating from both EU and non-EU countries. At...
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Interest rate hikes threaten property sales
Thousands of borrowers have been stung by interest rate hikes as they see their monthly mortgage instalment increase by hundreds of euros, causing concern about the...
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Sales growing from strength to strength
Cyprus property sales are growing from strength to strength according to official statistics from the Department of Lands and Surveys. The total number of property...
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Rental & purchase values continue to rise
The RICS Cyprus Property Price Index with KPMG in Cyprus reveals that property purchase and rental values continued to rise in the fourth quarter of 2022. According...
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‘Golden passport’ trial postponed yet again
The ongoing trial at the Nicosia court over the ‘golden passports’ took a new turn on Wednesday that led to another postponement until March 8, this time over the...
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ETEK calls for urgent building safety checks
ETEK, the Cyprus Scientific and Technical Chamber, has sent a letter to the Public Works Department calling for urgent safety on buildings, starting with those in use by...
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Airbnb owners given longer to register
People providing accommodation services will be afforded a transitional period to register with the governmental Airbnb register, under tweaks made to the relevant law...
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EU extends deadline to change property VAT laws
Lawmakers on Monday revisited the issue of reduced VAT on homes, with some trying to instil a sense of urgency on the matter as the European Commission continues...
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Tax unused land to tackle supply shortage
House prices and rents are pushed up by a lack of supply, with real estate analysts proposing that authorities take drastic action to bring new properties onto the...
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Still no compensation for Pissouri landslide victims
Government has earmarked funds to stabilise the landslide that has caused houses to crumble, but there is still no decision over compensating the owners The government...
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Construction materials prices at record highs
The price index of construction materials rose 12.25 per cent in January on an annual basis; an increase of 1.79% compared with December according to the Cyprus...
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Cyprus to tackle construction waste problem
Cyprus’ goal is to recycle 70 per cent of construction and demolition waste, Agriculture Minister Costas Kadis said on Friday. Speaking at a conference on a robotic...
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Crackdown on holiday renters failing to register
Lawmakers on Tuesday called for a crackdown on people renting out their properties but who continue to evade the taxman by not registering as Airbnb. The House...
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Apartment rental & purchase prices rise
Property prices across Cyprus year-on-year rose by 9.9% for apartments, 1.0% for houses and 0.3% for offices, according to the Q4 2022 Ask WiRE property index. Prices...
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Foreign sales hit 16 year high
Property sales to foreign (non-Cypriot) buyers in January were the highest on record since January 2007 according to official figures from the Department of Lands &...
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