News

Cyprus parliament approved reduced VAT rate 5% for 130 sqm of primary residence

09.06.2023 The plenary session of the Cypriot Parliament on Thursday almost unanimously adopted a law allowing a reduced VAT rate of 5% to be applied to the first 130 sqm...

Law on first homes reduced VAT pass

09.06.2023 Almost unanimously and under close scrutiny from Brussels, Parliament on Thursday passed a law that would cut the 5% VAT rate on the purchase of a first home in..

Building permits decrease in Q1, increase in value and area

09.06.2023 In the first quarter of 2023, the number of building permits issued decreased compared to the corresponding period of the previous year, however, the total cost and area of..

Paphos real estate market sees surge in luxury properties

08.06.2023 Luxury properties worth over €400,000 are driving the Paphos housing market in 2022. On Thursday, Cypriot company Ask Wire released its 2022 Paphos property market report, including an analysis..

Residential Property Price Index up by 6.6% in Q4 2022

08.06.2023 Rising construction costs and growing demand have led to a continued increase in house prices in the fourth quarter of 2022. According to the Central Bank of Cyprus (CBC),..

High turnover and six-year record in real estate sales

07.05.2023 The best performance for this year was recorded for real estate sales in May 2023 after December 2017 (1537) . According to the Department of Lands and Surveys, property..

Leptos unveils Block 8 of Mandria Gardens development

07.05.2023 Leptos Estates is proud to present Block 8, a new addition to the Mandria Gardens residential complex. Situated in the beautiful Mandria area of Paphos, Block 8 is a..

Real estate market facing ‘giant problem’

07.05.2023 Real estate experts on Tuesday warned of a "giant problem" in the real estate market, as the impact of external factors, including inflation and high interest rates, is increasingly..

The new tower that will be erected near Limassol Marina

06.06.2023 COSTA PALONA LTD is planning to build a new 11-storey office building in Limassol. The company has submitted an environmental impact assessment to the Environmental Protection Agency and the..

Stakes raised in 5% VAT rules fiasco

06.06.2023 The European Commission has decided to send a reasoned opinion to Cyprus in connection with non-compliance with EU VAT rules in relation to housing purchased or built in Cyprus...

Larnaca: The construction works of the Salina Municipal Park have started

05.05.2023 Construction work has begun on the Salina Municipal Park, which will include an artificial lake. The project will cost approximately 2.4 million euros and is expected to be completed..

Stylish contemporary living in Limassol

04.05.2023 Charming tranquility and a unique range of amenities on site blend perfectly to offer a harmonious lifestyle in one of Limassol's most popular destinations. The result is a sophisticated,..

Five penthouses in Limassol looking for a buyer

01.06.2023 Luxurious penthouses, priced from €500.400, in various areas of Limassol are looking for a buyer. We present you five of the best penthouses. Two bedroom penthouse in Agios Athanasios:..

Massive construction projects near Trikomo

01.06.2023 Advertisements for major new construction projects in the north of the island - focusing on Trikomo - sparked heated discussion on both sides of the watershed, and many were..

Commission calls on Cyprus to comply with EU VAT rules for dwellings

01.06.2023 The Commission of the European Union has called on Cyprus to bring its national legislation into line with EU rules on value added tax (VAT) for housing purchased or..

Apartments outshine houses in booming Larnaca property market

31.05.2023 In total, 1,929 apartments and 864 houses were sold last year. Cypriot company Ask Wire on Wednesday released a report detailing property sales, including houses and apartments, in the..

Limassol housing issue needs to be addressed, says Akel

30.05.2023 Akel General Secretary Stefanos Stefanou touched on the burning issue of affordability in Limassol on Tuesday , noting that the cost of homeownership and rent in the city is..

TANAS Development announcements flagship project TANAS One

30.05.2023 TANAS Development has recently unveiled the plans for their new project "TANAS One ". Located in Livadia, an area rising in popularity as Larnaca's main investment region , the..

EU rejects proposed VAT cut

30.05.2023 The European Commission disagreed with Parliament's compromise proposal to cut VAT on homes, MPs said on the House Finance Committee on Monday, amid a deadline approaching just over a..

G. Misirlis : The ” big” revaluation ” of real property is inevitable

29.05.2023 Sustainability is a big bet that the Cypriot real estate sector must make. Imperio Director Yannis Misirlis is setting the tone for Cypriot real estate by describing a brand..

SPOLMIK: Safety and health in construction projects – The ” Zero Accidents ‘ vision

28.05.2023 The Association of Civil Engineers of Cyprus (SPOLMIK), with over 250 delegates, organized the 8th International Conference on Safety and Health in Construction Projects in Nicosia entitled "Respect for..

Рroperty market too tight to mention

28.05.2023 Cyprus is facing a housing crisis as young couples are unable to enter the real estate market due to skyrocketing prices and supply is rapidly shrinking as thousands of..

€ 856mln development to upgrade Limassol

26.05.2023 A large scale mixed use project is under development in the Agia Fyla area of Limassol . The goal of the project is to turn the area into a..

‘ Property sale fluctuations unrelated to land registry attack ‘

23.05.2023 Property sales rose by 20 percent between January and mid-May compared to the corresponding period in 2022, according to the head of the Department of Lands and Surveys, Elikkos..

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