News

Cost of labour rises amid inflation hike

25.03.2022 According to preliminary data from the Statistical Service, in the last quarter of 2021, the average hourly labor cost in Cyprus is estimated to have increased by 1.6% compared..

RCB Bank transforms into a regulated asset management company

24.03.2022 RCB Bank Ltd has taken the decision to transform the Bank into a regulated asset management company, abandoning the banking operations that will be terminated. “While the RZB has..

Decision in favor of the Republic of Cyprus for FBME

24.03.2022 The Paris Court of Appeal has rejected an application to set aside an international arbitration award in favor of the Republic of Cyprus against FBME Bank, the Republic's legal..

Cost of building materials sky high

24.03.2022 The cost of building materials in Cyprus continues to skyrocket, making it difficult for the real estate and construction sectors to recover from the abolition of the golden passport..

Trade gap widens on cost of raw materials

24.03.2022 Rising commodity prices in Cyprus are largely to blame for the growing trade deficit, which increased by almost 349 million euros in 2021 compared to 2020 to reach 5.24..

Tourism off to a good start, war and sanctions aside

24.03.2022 The island's battered tourism industry is trying to recover from the coronavirus, as well as the aftermath of the war in Ukraine and sanctions against Russia, and is off..

Altamira: 80 new properties this week throughout Cyprus

24.03.2022 Over eighty high value properties such as apartments, houses and land in selected residential areas of Cyprus are included in Altamira Real Estate's weekly newsletter. They are collected in..

Real Estate Market Research Review 2021 – Landbank Analytics

23.03.2022 The Cyprus property market is in constant flux and real estate trends come and go. Given the highly local nature of the industry, with different conditions in each province/city,..

The most expensive villa that Altamira sells for € 4.5 million

23.03.2022 Two-storey luxury villa in a quiet location, in Apostolos Barnabas area, in Strovolos, for sale through Altamira. The luxury house, which is located about 1.3 km west of the..

M. Kynageirou: Rally of increases and blow to real estate due to Russia

22.03.2022 Real estate agents are expecting a temporary halt and delay in the property market due to rising building materials prices, which is likely to continue over the next period,..

How do the sanctions and consequences of the war affect the property market in Cyprus?

22.03.2022 Regarding the effects of the war, as well as the related sanctions, Pavlos Loizou, CEO of fintech company WiRE FS, said that the Cyprus property market is likely to..

Cyprus property market should look to the West says industry expert

22.03.2022 Given that the war in Ukraine has caused a number of short-term and long-term problems, and the global economy is likely to take years to recover, Cyprus should shift..

Hellenic bank to acquire performing loans from RCB

22.03.2022 Hellenic Bank announced that it has entered into an agreement to acquire a performing loan portfolio (the "Transaction") from RCB Bank Limited, formerly known as Russian Commercial Bank (Cyprus)...

RCB sells a €556-million loan portfolio to Hellenic Bank

22.03.2022 RCB Bank Limited, the third largest lender in Cyprus, has announced that it has entered into an agreement with Hellenic Bank Public Company Ltd for the sale of up..

Request for the transformation of KEDIPES expected to be submitted to the DG of Competition in July

22.03.2022 The request for the transformation of the Cyprus Asset Management Company (KEDIPES) into an asset management body and the implementation of the mortgage-to-lease plan is expected to be formally..

Government plans mortgage-to-rent scheme

22.03.2022 Later this year, the government will formally seek European Commission approval for the transformation of the failed cooperative bank's successor legal entity into an asset management company. In parliament..

Paphos among ‘best value’ for UK tourists

22.03.2022 Paphos remains an attractive destination for British tourists despite rising costs of goods and services around the world, as a survey in the UK ranks the city as the..

Complying with an ECHR decision

21.03.2022 A violation of Article 6.1 of the Convention was found and a decision was made to reopen the appeal. The decision of the European Court of Human Rights (ECtHR)..

Building density and real estate development

21.03.2022 Unfortunately, building density is used as a tool to attract votes, both at the grassroots level of local councils and communities, and at the highest level of political parties..

Over 2,500 building permits issued under new procedure

21.03.2022 More than 2,500 building permits have been issued under the new fast-track procedure since its introduction in October 2021, Interior Minister Nikos Nouris said on Saturday, speaking at the..

Construction Materials prices continued rising in February

21.03.2022 The Cyprus Construction Materials Price Index continued to rise in February, reflecting rising costs incurred by contractors. According to data published by the Cypriot Statistical Office (Cystat), the material..

Fast track procedure for building permits

20.03.2022 Cypriot Interior Minister Nikos Nouris, speaking on Saturday at the 29th General Assembly of the Cyprus Association of Civil Engineers, said that the ministry is committed to revitalizing the..

Something is seriously wrong

I wonder if the authorities are ready to fulfill their duties for the benefit of Cyprus and its people. The examples I often give are by no means a complete..

Decarbonising the built environment

19.03.2022 When considering effective ways to achieve zero emissions, policymakers tend to focus on renewable energy and cleaner vehicles, often overlooking a key element of the energy transition: decarbonizing the..

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