
CyprusPropertyNews
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Property sales forging ahead
For the sixth consecutive month property sales in Cyprus reached a 14 year high in June as measured by the number of contracts deposited at Land...
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Pushback to VAT change on home buys
MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower 5% VAT or face hefty financial...
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Pressures mounting on property prices
In the latest edition of its Residential Property Price Index (RPPI), the Cyprus Central Bank reports that property prices continued to rise in...
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Cyprus property values growing
The Cyprus property market is growing while getting pricier, as the number of properties rises by 1.5%, while their overall value increased by...
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EU blocks ‘generous’ mortgage-to-rent scheme
Brussels has told Cyprus to hold its horses over a fresh attempt to throw another lifeline, a mortgage-to-rent scheme, to distressed borrowers to...
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Higher VAT on smaller homes ‘spells disaster’
A European Union directive to reduce the size of homes entitled to lower 5% VAT has real estate agents and developers in uproar as they claim it...
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Cypriot passport in fourteenth place
A Cypriot passport ranks in fourteenth place out of 227 countries worldwide, according to the Henley Passport Index for 2022 . The Index is...
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VAT rate on first homes rethink
Faced with pushback from MPs and building industry stakeholders, the government on Monday agreed to – again – rethink parts of a bill...
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New lifeline for defaulted borrowers
Cyprus is to throw another lifeline to distressed borrowers to help them keep their homes following its ESTIA scheme for toxic mortgages, which...
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Cyprus mulls raising bar for expat retirees
UK pensioners eyeing a retirement home in Cyprus may have to rethink their plans, as changes proposed by the government on granting residence...
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Pissouri homeowners plead with MPs
Residents of Pissouri on Thursday pleaded with MPs to help with mounting problems as a result of continuing landslides in the area, including the...
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Small annual fall in construction material prices
The year-on-year prices for all construction materials rose by 21.81 per cent from May 2021 to May 2022, according to the Cyprus Statistical...
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Paphos, Limassol property market booming
Real estate agents in Limassol and Paphos are reporting the highest demand from foreign buyers and Cypriots for homes since 2020 when the...
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Ministry passes the buck on Aglandjia rockslides
The state has no responsibility for rockslides on private plots, the interior ministry reiterated on Friday, a day after MPs and the Aglandjia...
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Cyprus has least crowded & costly homes
Eurostat data reveals that in 2020, 17.5% of the EU population lived in over-crowded households. I.e., they did not have a sufficient number of...
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Reduction in building permits authorised in March
The number of building permits authorized in Cyprus during March 2022 stood at 642. The total value of these permits reached €209.7 million and...
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Wealth gap reshaping property sector
The Cyprus property sector is reinvented by a growing wealth disparity, creating a wider gap among potential buyers for homes and apartments. The...
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Construction hit by staff shortages & rising costs
Construction companies and other industry stakeholders continue to be faced with the persisting challenges posed by rising domestic inflation, as...
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New Jointly-Owned Buildings Law drafted
Anyone who’s had dealings with the Jointly-Owned Buildings Law will agree that it’s in dire need of revision. I get as many complaints and...
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Lawyer Andreas Pittadjis fined
Andreas Pittadjis, a prominent Famagusta lawyer implicated in Al Jazeera’s golden passport scandal expose , which ended the citizenship...
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Relentless rise in property sales
For a fifth consecutive month, the number of property sales in Cyprus hit a 14 year high in May as measured by the number of contracts deposited...
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Lenders told not to foreclose on properties
The financial ombudsman has advised banks and credit-acquiring companies to refrain from foreclosing on mortgaged properties before the...
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Rises reported in most real estate categories
In its overview of real estate activity in Cyprus during the first quarter of 2022 RICS Cyprus with KPMG in Cyprus reports that transactions...
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Danger of electrocution in older homes
Residents of some 60 to 70 per cent of homes face possible electrocution due to the age of the power supply switch, which fails to work – and...
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Cyprus justice system performance worst in EU
The performance of the Cyprus justice system, as measured by the time taken to complete court cases, places it at the bottom of the list compared...