News

Real estate sector demand rising

16.02.2022 Demand for property of all types in Cyprus continues to grow, according to the latest edition of the RICS Property Price Index in Cyprus prepared by KPMG. In the..

Nouris: Economy facing new prospects for development

16.02.2022 “Although the pandemic has caused delays in the implementation of plans for the complete modernization of the state, we are now facing a new reality that serves as a..

Favorable conditions for real estate investments

15.02.2022 The conditions in the Cypriot banking system in recent years regarding increased household liquidity as a result of spending restrictions during the pandemic make the current period an ideal..

Engomi Nicosia or Limassol Center?

15.02.2022 A modern apartment in Engomi, Nicosia, or a luxury apartment in the center of Limassol? Here are the cities, here is a dilemma that is becoming more and more..

Gordian: Competitive properties for every use at affordable prices

14.02.2022 Gordian offers a wide range of properties for all purposes and budgets. Discover commercial, tourist and residential properties for investment with immediate and high returns. Commercial plot in Tsiflikoudia,..

Fire at the WILL by K. Petridis for VAT 5% for first home

14.02.2022 The readiness of the executive branch to consider the introduction of a transitional period and a maximum cost criterion at a reduced VAT rate for building a house was..

Finance Minister warns against rejecting VAT directive

14.02.2022 Finance Minister Konstantinos Petrides warned MPs that any interference with a European Union directive to reduce the size of homes eligible for a 5% VAT reduction could lead to..

Alpha Bank: Sale of non-performing loans and real estate properties €2.4 bn

14.02.2022 Alpha Services and Holdings S.A. (together with its subsidiaries, "Alpha Bank Group" or "Group") has reached an agreement with an affiliate of Cerberus Capital Management, L.P. (“Cerberus”) for the..

Alteration rights of an owner of a unit

14.02.2022 The rights of owners of premises in common property buildings, when it comes to redevelopment, are governed primarily by Section 38D of the Real Estate Law, Chapter 224, and..

Tackling tax avoidance

14.02.2022 Efforts are being made around the world to reduce tax evasion. We believe these efforts can be helped to some extent by providing some incentive to taxpayers. In the..

Renting became more expensive in previous year

12.02.2022 The cost of renting both apartments and houses rose in the fourth quarter of last year, according to a report released this week by independent real estate asset management..

Cyprus attracting investors eyeing secondary residency

12.02.2022 Despite the elimination of the Golden Passport scheme, Cyprus is still in high demand from foreign investors looking for a second residence. According to the Henley and Partners Best..

VAT on smaller homes threatens recovery

12.02.2022 The EU directive to reduce the size of houses eligible for a 5% VAT reduction threatens the recovery of the construction sector and the economy, real estate experts say...

Central Bank Governor outlines improved features in banking sector

11.02.2022 According to the Governor of the Central Bank of Cyprus, Konstantinos Herodotus, the transformation of the business model of banks towards digitalization and increasing their profitability by rationalizing their..

Brussels confirms positive course of economy

11.02.2022 The European Commission's winter forecast confirms the positive course of the Cypriot economy: real GDP will increase by 5.3% in the first nine months of 2021, and a further..

Residential market powers ahead, commercial wobbles

10.02.2022 According to the WiRE Real Estate Index for the fourth quarter, in Cyprus, quarterly sales increased by 1.4% for apartments and 0.5% for houses and decreased by 0.5% for..

Building permits up by 15.9% annually in first 11 months of 2021

10.02.2022 Building permits issued in Cyprus in the first eleven months of 2021 rose by 15.9% year on year, according to data released by the Cyprus Statistical Office (CyStat) on..

CLDC to be funded from new Casino revenue

09.02.2022 The allocation of 15% of the income of the new casino, once it is operational, to the Cyprus Land Development Corporation to advance its housing policy projects was agreed..

Affordable housing funded from casino revenue

09.02.2022 About 15% of government revenue from the soon-to-be-commissioned new casino resort will help build affordable public housing. Cyprus Land Development Corporation budget for 2022 will increase to €11.6 million..

MPs work on making VAT on houses EU compatible

08.02.2022 MPs discussed on Monday how to amend the government's VAT bill on homes to make it compatible with EU law. The case concerns a bill submitted just earlier this..

Peyia residents plead, no more big development projects

07.02.2022 Residents of Peyia have taken up arms against a number of major construction projects destined for the area, including two large hotels, citing a lack of infrastructure and arguing..

Payment of contractor for building works

07.02.2022 Very often builders are hired to repair, build or add to houses or other buildings. The builder or contractor, before starting work, visits and inspects the site, draws up..

Property rules need changing

06.02.2022 It seems that despite the initial lukewarm response from politicians to a proper investigation into the mismanagement of the Cypriot economy (many of whom have only themselves to blame),..

Altamira: The best proposals for residential plots in Nicosia

05.02.2022 Given the increased demand, as well as the rapid housing development seen in Nicosia, Altamira Real Estate has decided to present 22 residential plots in the most attractive areas..

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