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New EU steps to address the housing crisis and support citizens

The European Commission intends to take “concrete and effective” steps to improve housing conditions by playing a more active role in this area. However , it will respect the principles..

CEBC Conference in Cyprus: Discussing Modern Approaches to Building Control

Cyprus will be one of the venues for the meeting of the Consortium for European Building Control ( CEBC ), which is being organised by the Ministry of Interior. The..

How the banking and construction sectors work together for the benefit of the Cyprus economy

On October 7, a meeting was held between the Pancyprian Construction Entrepreneurs Association and the Cyprus Banking Association, where key issues affecting both the banking sector and the real estate..

Cyprus property market in September: what has changed for local and foreign buyers

According to official statistics published by the Cyprus Land Department, the number of property transactions in September 2024 decreased slightly compared to the same period last year. A total of..

Office space in Cyprus is more expensive than in London: reasons and consequences

Office rents in Cyprus, particularly in coastal Limassol , are in some cases higher than in London or Amsterdam. Major tech companies operating on the island say that the issue..

New architectural project Landmark Nicosia : luxury and innovation in the heart of the capital

Construction work on the MHV Mediterranean project Hospitality Venture Group called "The Landmark Nicosia » is actively continuing. This significant project, located in one of the central areas of the..

Corruption and ‘golden passports’ trial postponed to 2025

The 'golden passports' trial linked to the Al investigation Jazeera , postponed again. The case stems from a 2020 investigation that accused senior figures of corruption. The defendants include former..

How did prices for expensive real estate change in August 2024

In August 2024, the ten most expensive property transactions in Cyprus totalled €20.9 million, according to data from Ask Wire . The largest transaction is the sale of a house..

Eurozone Real Estate Market Recovery: Trends and Prospects for 2024

According to Eurostat, residential property prices in the eurozone have started to rise for the first time in more than a year. This confirms the expectations of property market experts,..

Buying Property in Cyprus: New Laws and Risks for Buyers

For decades, the Cyprus property market has been plagued by buyers who purchase properties without title deeds. To protect such buyers, the Cyprus Parliament passed several laws aimed at regulating..

Residential Property Price Changes: Q2 2024 Results

The residential property price index for the second quarter of 2024 was 112.86 units, according to preliminary data from the Statistical Service. Compared with the same period in 2023, the..

How Modernizing the Licensing System Will Boost Construction Development in Cyprus

A recent meeting organized by the Pancyprian Association of Construction and Land Development Entrepreneurs with the heads of district self-governments focused on the need to modernize and speed up the..

New large-scale projects in Nicosia: how the city will change by 2030

In the coming years, Nicosia is expected to undergo major construction projects that will lead to population redistribution and the creation of new jobs. According to the Sustainable Mobility (SMM)..

New construction projects and increased housing construction in 2024

The process of issuing residential building permits accelerated significantly in the first half of 2024. The number of issued residential building permits increased by 29.2%, reaching 3,171 compared to 2,455..

Temporary extension of powers of local authorities to control emergency buildings until March 2025

According to a new law passed by parliament, local authorities, including municipalities and district administrations, will continue to be responsible for supervising emergency buildings until March 31, 2025. The decision..

Global Real Estate Markets: How Prices and Risks Will Change in 2024

According to the latest report from UBS Global Real Estate Bubble Index , the risk of a bubble in global real estate markets continues to decline. Despite this general trend,..

Pafilia Property Developers – leader in luxury property development in Cyprus and Greece

Pafilia Company Property Developers has been one of the leading construction companies in Cyprus and Greece for almost half a century. Its projects, renowned for their unique architectural style and..

How does water shortage affect the real estate market and what can be done about it?

Water shortages have a significant impact on the residential property market, especially in the segment targeting foreign buyers, where countries compete for investors’ attention. However, water issues are often ignored,..

Dynamics of Cyprus Property Sales in August: Analysis by Regions

Residential property sales in Cyprus declined in August, remaining at the same level as last year. According to the Land Department, 1,135 property sales contracts were registered in August, compared..

How Nicosia’s city centre has become a new cultural and business hub

In recent years, the centre of Nicosia has undergone significant changes, becoming an example of a modern urban environment. The city has changed significantly thanks to investments in infrastructure and..

Registering a rental through Airbnb and fines for violations: what do you need to know?

In recent months, there has been a significant increase in the registration of properties for short-term rentals online, including popular platforms such as Airbnb . By law, all properties offered..

Causes and consequences of the increase in building permits for the Cyprus property market

Cyprus saw a sharp rise in the number of building permits issued in June 2024, as local authorities tried to speed up the processing of a backlog of applications before..

How legislative changes have sped up the issuance of building permits in Cyprus

In June 2024, the number of building permits issued jumped by 150% compared to the same period last year, as authorities rushed to process a backlog of applications before the..

Prospective Land Plot in Limassol : Business and Construction Opportunities

Against the backdrop of significant growth in demand for commercial real estate, Altamira Real Estate has put up for sale a unique corner commercial plot located in the heart of..

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