News

RCB Bank formally relinquishes license

24.10.2022 RCB Bank announced on Monday that it will be relinquishing its banking license, a formality that completes the lender's transformation into an asset management company. The decision was made..

Over 7,000 Greek Cypriots apply to IPC

24.10.2022 According to the northern "ambassador" in Ankara, more than 7,000 Greek Cypriots have applied to the Real Estate Commission (IPC). Ismet Korukoğlu, in wide-ranging statements to the Turkish media,..

Bureaucracy stymies building permits and developers start before they’re issued

23.10.2022 A planning permit and a building permit are not the same thing, but both must be completed before construction begins. The letter, received by the Cypriot post (also sent..

Rating agency upgrades Cyprus, factors in EU membership benefits

22.10.2022 International rating agency Capital Intelligence announced on Saturday that it had upgraded Cyprus' long-term foreign currency rating to 'BB B- ' from 'BB+'. At the same time, the agency..

Cyprus fiscal deficit hit €408 mln in 2021

22.10.2022 The budget deficit of Cyprus reached 408 million euros in 2021, and the budget debt corresponded to 101% of GDP, the Statistical Office of Cyprus (Cystat) said on Friday...

Cyprus commission chief warns investors of crypto risks

22.10.2022 The Chairman of the Cyprus Securities and Exchange Commission (CySEC), George Theohharides, released a formal letter this week to educate investors on the risks of investing in crypto assets..

Home-owning dream turns to nightmare

22.10.2022 The dream of owning a home is becoming a nightmare for Cypriot millennial couples as a 20% price increase last year made it impossible to buy a home and..

Stek announced participation in a conference dedicated to religious and pilgrimage tourism in Cyprus and Greece

22.10.2022 The Cyprus Tourism Enterprises Association (Stek) on Friday announced its participation in a conference dedicated to religious and pilgrimage tourism in Cyprus and Greece. The conference, held in Greece,..

CySEC issues crypto asset license to Binance

21.10.2022 Cryptocurrency exchange Binance on Friday announced that Binance Cyprus Limited has received Class 3 registration as a Crypto Asset Service Provider (CASP) by the Cyprus Securities and Exchange Commission..

Hellenic Bank announced a number of changes to its banking services

21.10.2022 Hellenic Bank on Thursday announced a number of changes to its banking services aimed at expanding the capabilities of the reception service, which in turn will help customers feel..

An end to trapped buyers in the works

21.10.2022 A bill was submitted to the plenary session of Parliament, which should prevent property buyers in Cyprus from falling into the trap. For readers who have not come across..

Harmonized consumer price index up 8.1%

20.10.2022 According to a report released on Wednesday by the Statistical Office of Cyprus (Cystat), the harmonized consumer price index rose by 8.1% year on year in the first nine..

Ready-made residential solutions from Altamira Real Estate

20.10.2022 Altamira Real Estate presents very attractive residential offers with houses and apartments for immediate occupancy. NICOSIA In the popular area of Nicosia, in Agios Andreas, an empty house is..

Real estate sales at 3-60 Themis Event

20.10.2022 Themis Real Estate, following on from the groundbreaking Themis Event 3-60, has now made investing accessible to all. Discounts up to 60% on properties in the best areas of..

Building permits for 2.3 million square meters in 2021 in Cyprus

19.10.2022 According to data published by Eurostat, the EU statistics agency, the issuance of building permits in the European Union increased by 15% in 2021 compared to 2020. Trends in..

16.24% annual increase in the construction materials price index

19.10.2022 The building materials price index for September 2022 reached 134.55 units (based on 2015 = 100), representing a slight increase of 0.16% compared to the previous month. According to..

In these materials the construction cost gallops

19.10.2022 Building materials price increases may have been capped this September at 0.16% compared to August, but relative to September 2021, the relative figure recorded a 16.24% increase, exacerbating already..

How the Ararat construction works are progressing

19.10.2022 Construction work is ongoing at Ararat Grand Residences, a 27-story tower to be built on the eastern side of Limassol's coastal road. The project consists of 17 luxury apartments..

Overseas travel in September 2022 up 84.3% year on year

19.10.2022 According to a report published this week by the Statistical Office of Cyprus (Cystat), the number of trips abroad made by residents of Cyprus in September 2022 is almost..

Bill for quick processing of financial disputes

19.10.2022 On Wednesday, the House Legal Affairs Committee began debating a bill that would create special jurisdiction in district courts to quickly resolve financial disputes. Edek leader Marinos Sizopoulos said..

Cyprus GDP Revision and ASCAME 40th Anniversary

18.10.2022 The gross domestic product (GDP) of Cyprus has been revised up to 24.01 billion euros at current prices for 2021 and to 21.89 billion euros for 2020, according to..

Green Properties takes us on a tour of Wave Residence

17.10.2022 Green Properties invites us on a tour of Wave Residence, an ideal multi-family home consisting of six luxury apartments. Christiana Marissa Kyriakidou, COO of Green Properties Land Developers, spoke..

Cyfield: Ready-to-deliver homes in Latsia and Archangelos

17.10.2022 Unique, modern and ready to rent homes in two of the best areas in Nicosia that Cyfield has on the market. These are the residences of the EVA RESIDENCES..

Deals worth millions for land in the wine village of Agios Ambrosios in Limassol

17.10.2022 Huge tracts of land have been bought in recent months in one of the wine-producing villages of the Limassol region, namely Agios Ambrosios, worth tens of millions of euros...

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