News

Armeftis Partners: With two new residential projects on the Athenian Riviera

19.09.2022 Two new projects by architecture firm Armeftis Partners in Athens are in the process of being licensed. The first concerns a modern residential building located in Varkiza, a seaside..

Construction materials: 16.69% annual increase in August

19.09.2022 The building materials price index in August 2022 was marked by an increase of 16.69% compared to the corresponding indicator in 2021. In August this year, the index rose..

Harmonized inflation in Cyprus rose by 9.6% year on year

17.09.2022 Harmonized inflation in Cyprus continued to rise in August 2022, albeit at a slower pace than the previous month, recording an increase of 9.6% year-on-year, according to a report..

Altamira: New proposals in houses, apartments and plots

16.09.2022 This week Altamira Real Estate offers residential real estate, based on the needs and possibilities of each interested buyer. Like every Tuesday, the company presents on its website new..

Bad tenant register suggested as way to normalize rental prices

16.09.2022 Marinos Kineiro, President of the Board of Registration of Real Estate Agents, issued a statement this week addressing the problem of the soaring rental prices in Cyprus. “The worrisome..

Total hourly labor costs in Cyprus rose by 5.2%

16.09.2022 According to preliminary data released on Thursday by the Statistical Office of Cyprus (Cystat), total hourly labor costs in Cyprus rose by 5.2% year on year in the second..

Cabinet receives foreign direct investment bill

16.09.2022 This week, a bill was submitted to the Cabinet of Ministers to enshrine in national legislation the European Union directive on the verification of foreign direct investment (FDI). The..

Cypriot banks should remain prudent due to Ukraine war

15.09.2022 The Governor of the Central Bank of Cyprus (CBC), Konstantinos Herodotou, addressed the Association of Cypriot Banks during the latter's annual general meeting on Wednesday, touching on the uncertainty..

The total number of employees in the public sector in the second quarter of 2022 increased by 1.8%

15.09.2022 According to a report published this week by the Statistical Office of Cyprus (Cystat), the total number of employees in the public sector reached 72,432 in the second quarter..

Hellenic Bank: Negative interest rates on non-household deposits to be terminated

14.09.2022 Hellenic Bank announced its decision to eliminate negative interest rates on non-household euro accounts starting from 03/10/2022. From that date, the interest rate on non-household checking, savings, and notice..

The number of vacancies in the second quarter of 2022 increased by 50.2% compared to last year

14.09.2022 Hellenic Bank on Tuesday announced its decision to eliminate negative interest rates on non-household euro accounts from October 3, 2022. From that date, the interest rate on all non-household..

Fast-tracking building permits a success

14.09.2022 Interior Minister Nikos Nouris said on Monday that fast-track licensing -- the issuance of urban planning and building permits -- has proven to be hugely successful, and major overhauls..

Practical suggestions for reducing rental prices

13.09.2022 Rent headaches are on the rise as inflationary pressures rise and household disposable income shrinks. At a time when everything is getting more expensive, we see the whole issue..

Permission to build a private hospital in Nicosia has been approved

13.09.2022 Private healthcare company Laertes Health LTD on Monday announced that it had finally approved the necessary building permit for a private hospital in Nicosia. The hospital, a 4-storey building..

Limassol Greens: The successful sales process – The next steps

12.09.2022 Continuing its successful sales, Limassol Greens, a new integrated residential golf resort and spa resort under construction in Limassol, is entering its first phase of development. Part of the..

Aktea Residences 3 in Limassol takes shape

10.09.2022 Cybarco's new residential complex "Aktea Residences 3" in Limassol is taking shape. This is a luxury real estate complex, which is a continuation of a series of luxury apartment..

European businesses ask for government support measures

10.09.2022 The Cyprus Chamber of Commerce and Industry (Keve) said this week that Eurochambers, an association of European chambers of commerce, has requested immediate measures to support businesses in the..

Holding a tender for a project on digital verification of data of bank customers

10.09.2022 The Borrower Protection Association this week welcomed the announcement by the Central Bank of Cyprus of a tender for a digital verification project for the bank's customers. The project,..

Creating affordable rents

10.09.2022 There is a good initiative by the Cyprus Land Development Corporation (CLDC) to offer residential properties for rent at affordable prices. Noteworthy is the announcement by this NGO and..

A large residential development is coming to Paphos

09.09.2022 EPA approval has been secured for a large residential complex in Paphos. We are talking about the construction and operation of 18 houses within the administrative boundaries of the..

Construction slows down, single-family houses and multi-family houses are in short supply

09.09.2022 The delay or freeze of some projects is evidenced by the stagnant construction industry amid repeated increases and delays in the supply of materials. The construction sector has sounded..

The collective agreement between the trade union of bank employees Etyk and the Association of Banks of Cyprus has been extended

09.09.2022 Bankers' union Etyk announced this week that it had reached an agreement with the Cypriot Banking Association to extend their collective bargaining agreement. The negotiations took place in an..

100 new properties this week from Altamira Real Estate

08.09.2022 The focus is on the company's new campaign, which includes investment opportunities in large commercial buildings located on the most central streets of cities, with a potential return of..

S&P upgrades Bank of Cyprus, praises NPL reduction

08.09.2022 S&P Global Ratings this week announced an upgrade to its long-term issuer credit rating for the Bank of Cyprus (BoC) to 'BB-' from 'B+', citing the bank's improved asset..

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