News

The regeneration of Paphos centre

31.01.2022 Anthony Loizou, FRICS After an initial visit to the central Paphos area which was being rebuilt in 2016, we visited the project again during the Christmas holidays. Admittedly, very..

Possible change in VAT on new dwellings

30.01.2022 Cyprus allows a reduced VAT rate of 5% on the first 200 square meters of housing used by the beneficiary as the main and permanent residence, without any other..

Kedipes state aid repayments hit €570mln

29.01.2022 State-owned asset management company Kedipes announced on Friday that it paid out €60 million in state aid in the fourth quarter of last year, with state aid payments reaching..

Deposits jump by €3.3 billion, loans down by €1.9 billion in 2021

28.01.2022 Deposits in the banking system of Cyprus at the end of 2021 amounted to 51.52 billion euros, an increase of 3.31 billion euros compared to December 2020, according to..

KEDIPES’ cash inflow at the highest level since the COVID-19 pandemic

28.01.2022 State-owned asset management company KEDIPES reported a cash inflow of €115.5 million in the fourth quarter of 2021, the highest level since the start of the COVID-19 pandemic. The..

Altamira: Week of plots with opportunities in Plati, Strovolos and Agios Athanasios

27.01.2022 The public is interested in new opportunities that can be found in Altamira Real Estate's weekly newsletter. In addition to the options for new houses and apartments on the..

NPLs down by €32 million at the end of October

26.01.2022 The total stock of non-performing loans (NPL) in the Cyprus banking sector decreased by 32 million euros at the end of October 2021 compared to the previous month, when..

Relocation of public real estate on the investment map

25.01.2022 Despite the dangers and constant challenges associated with the persistence of the pandemic crisis at home and in the world, the Cypriot economy, with its high resilience and impressive..

M. Hatzipanagiotou: The first phase of the Trilogy is completed in 2022

25.01.2022 Michalis Hatzipanagiotou, CEO of Cybarco and President of the Pan-Cyprus Association of Real Estate and Construction Entrepreneurs, is optimistic about the development of the property sector in Cyprus as..

2021, the starting point of a new era for the D. Zavos Group – 2022, the continuation

25.01.2022 In 2021, new foundations were laid for the D. Zavos Group. The completion of important projects and the reaction in the investment market have become decisive indicators for the..

Decree to prohibit illegal real estate practice

24.01.2022 It is illegal to act as a real estate agent without being registered and licensed, and a board of real estate agents may apply to the court for an..

Flats push up property prices

24.01.2022 In Cyprus, annual residential property prices continued to rise by 1.2% in the third quarter of 2021, mainly due to the purchase of apartments. This is evidenced by the..

Cyprus property prices go up due to strong apartment demand

22.01.2022 Property prices in Cyprus rose in the third quarter of 2021, according to a report from the Central Bank of Cyprus released on Friday. According to the central bank's..

Soaring building costs shackle recovery

21.01.2022 The property and construction sectors of Cyprus are under stress due to the skyrocketing prices of building materials, making it difficult to recover from the pandemic and the abandonment..

Central Bank and Bank Employees’ Union signed collective agreement

20.01.2022 On Thursday, a new collective agreement was signed between the Central Bank of Cyprus (CBC) and ETYK, the Bankers' Union. The agreement allows for the restructuring of the organizational..

Price Index of Construction Materials increases by 17.1% in Dec.

20.01.2022 According to the Statistical Office of Cyprus, the price index for building materials in December 2021 increased by 17.1% compared to December 2020 and reached 119.66 units (2015 base..

Opportunities in the Paphos area for land purchase from APS Cyprus

19.01.2022 APS Cyprus announces its new campaign with a selection of different plots of land in the Paphos area. Specific properties that will be sold with discounts of up to..

Gordian: Properties with flexibility in use from € 105,000

18.01.2022 Gordian has a portfolio of multipurpose properties for sale that includes an apartment, two commercial properties, and residential, tourist and industrial land. This portfolio includes a total of 14..

Cyprus Business Now

15.01.2022 TechIsland, a non-governmental organization representing 137 technology companies in Cyprus, announced this week that it has fulfilled its promise to rebuild a school in fire-ravaged Arakapas. “TechIsland members are..

House prices climbing slowest in Europe

15.01.2022 According to Eurostat, house prices in Cyprus are rising, but are increasing at the slowest annual rate in Europe. The Cyprus House Price Index for the third quarter of..

Fitch: Cypriot banks’ credit profiles improving on planned NPE sales

14.01.2022 According to Fitch Ratings, the creditworthiness of the two largest banks in Cyprus is improving due to significant progress in implementing plans to reduce non-performing loans (NPEs). The agency..

Moneyval: Cyprus has made some progress on compliance with anti-money laundering standards

13.01.2022 According to a follow-up report released on Thursday by the Council of Europe Committee of Experts on Money, Cyprus has made some progress in improving compliance with the standards..

Portfolio Investment assets at €22.8 billion in 2021

13.01.2022 Total portfolio investment (PI) assets fell to €22.8bn in 2021, representing a 7% annual decline from €24.5bn a year earlier, reflecting a decrease recorded in equity and investment fund..

CBC: FDI stock in 2021 remained positive despite reduction

13.01.2022 Net foreign direct investment (FDI) in Cyprus remained positive in 2021, although it fell to 10.5 billion euros from 12 billion euros in 2020, according to data released by..

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