News

Employment in Cyprus increased by 1.9% in the second quarter of 2022

08.09.2022 According to a report published on Wednesday by the Statistical Office of Cyprus (Cystat), employment in Cyprus increased by 1.9% in the second quarter of 2022 compared to the..

Building permits down the first semester of 2022

07.09.2022 A decrease in both the area and the cost of new building permits issued in the first half of 2022 was recorded according to data released by the Statistical..

Voices of contractors for VAT: The Cypriot buyer should not become a victim

07.09.2022 Contractors are asking for a formula to keep most buyers safe from a revised bill to introduce a reduced VAT rate (5%) on first home purchases. OSEOK's position is..

Cyprus banks tighten lending criteria due to geopolitical uncertainty

07.09.2022 Cypriot banks tightened lending standards in the second quarter of 2022, while net demand for new loans declined, reflecting geopolitical tensions and uncertainty in the global economic environment, according..

Submission of a bill concerning start-ups and their investments

07.09.2022 A bill regulating startups and their investments is expected to be submitted to the House of Representatives later this year, according to an update from the Energy, Commerce and..

House building slows amid high costs

07.09.2022 Official data shows that construction activity has declined slightly due to rising costs in the first six months of 2022 compared to the same period last year. Activity in..

Construction industry riddled with uncertainty

07.09.2022 Despite falling building material prices, due to the ongoing energy crisis, Cyprus developers are reluctant to give the green light to new construction projects until they have a clearer..

Industrial turnover up 21% in the first half of the year

06.09.2022 Industrial turnover recorded a significant growth of more than 21% in the first half of 2022 compared to the same period last year, with the largest growth recorded in..

Facts to consider before you go into debt

06.09.2022 From the parent's house or rented apartment to the first mansion. And what Cypriot has not dreamed (and this is very important) to have his own personal space in..

New building permits reduced in area and value

06.09.2022 Decreases in both area and cost are seen in new building permits issued in the first half of 2022, data released by the Statistical Office on Tuesday showed. Between..

“Aglantzia Hills”: Cyfield’s new apartment building in Plati

05.09.2022 Cyfield introduces a new, modern and value-added residential offering to the market. This is a new project "Aglantzia Hills", which is being built near Skali Aglantzia near the center..

Recourse against a town planning and a building permit

05.09.2022 The development of ΤΗΕ development observed in cities, with the construction of apartment buildings between houses, is now a necessity due to the lack of vacant lots. Negative impact..

Solutions to the rent problem

05.09.2022 A good attempt has been made by the Cyprus Land Development Organization (ΚΟΑG) to offer properties for rent (residential) at affordable prices. The announcement of this organization and the..

Compromise VAT bill on new homes

05.09.2022 The government has reintroduced a bill to reduce VAT on first homes, seeking to find a middle ground between MPs' concerns and the European Commission, which has filed legal..

Cyprus records 8.9 per cent inflation in August

03.09.2022 Inflation in August 2022 in Cyprus rose by 8.9%, according to data published by the Statistical Service of Cyprus on Friday. The consumer price index fell by 0.29 units...

Interest rate on housing loans increased to 2.55%

03.09.2022 July 2022 saw an increase in lending rates and a reduction in new loans, according to a report released this week by the Central Bank of Cyprus. According to..

Altamira: Attractive proposals in houses, apartments and plots

02.09.2022 As every week, the company presents on its website new options for plots, houses and apartments in popular areas of the island of great interest, such as Strovolos, Aglancia,..

Retail Value Turnover Index up 11.4% in July 2022

02.09.2022 The retail trade value index rose by 11.4% in July 2022 compared to the corresponding month of the previous year, while the retail trade volume index increased by 1.5%..

Cyprus sees surplus of €141.8 million in first seven months of 2022

02.09.2022 According to preliminary data published by the Cypriot Statistical Office (Cystat), as a percentage of GDP, the general government surplus in January-July 2022 was 0.6% of GDP, compared to..

Increase in lending rates and a drop in new loans

01.09.2022 According to data released on Thursday by the Central Bank of Cyprus, in July there was an increase in lending rates and a decrease in new loans. The statistics..

Promoting the shipping of Cyprus through a series of meetings with Dutch shipping companies

01.09.2022 Deputy Shipping Minister Vassilis Demetriades traveled to the Netherlands on Wednesday to support and promote Cypriot shipping through a series of meetings with Dutch shipping companies. According to a..

Limassol led the way in real estate transactions in Q2 2022

31.08.2022 The city of Limassol continued to lead in real estate transactions in the second quarter of 2022, with the coastal city accounting for 46.5% of total transactions, according to..

Homes from €4,050 in the September auctions

31.08.2022 There are dozens of residential properties expected to be put up for sale through auctions in September. The auctions concern residential properties in mountainous, seaside and urban areas in..

Output prices index rises by an annual 27.5% in July

31.08.2022 The July 2022 Industrial Price Index jumped 27.5% year-on-year, signaling inflationary pressure on economic activity in the midst of the war in Ukraine and the recovery from the Covid-19..

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