Real Estate News

April property sales up 29%

Cyprus property sales continued to rise in April with the number of sales contracts deposited at Land Registry Offices across the Republic up 29 per cent compared with April 2017

04th May, 2018

Russians trust Cyprus

One of the pillars of the partnership between Cyprus and Russia is the substantial cooperation in the economic field, Ambassador of the Russian Federation in Nicosia, Stanislav Osadchiy, has said, addressing a conference on ‘The future of Russian business in Cyprus’, that took place on Thursday in Limassol.

27th April, 2018

Limassol rent rises spiral upwards

Property rents in Limassol have increased by around 25 per cent over the past two years, much higher than other cities in Cyprus resulting in many locals being priced out of the market.

16th April, 2018

Cyprus Property Transfer Fees and VAT

MPs in Cyprus are planning to revise Property Transfer Fees and the VAT paid on land sales to eliminate distortions in the Cyprus property market, which they believe is adversely impacting competition.

26th March, 2018

Limassol in top 100 world cities

Limassol is amongst the top 100 cities of the world according in the ‘Quality of Living Index’ produced by Mercer, one of the world’s largest HR consultancy firms, that evaluated local living conditions in more than 450 cities.

22nd March, 2018

Central Bank of Cyprus: Property prices increase

The Residential Property Price Index recorded an increase of 0.4% for the fifth consecutive quarter in the third quarter of 2017, on a quarterly basis, while the Index increased by 1.4% yoy.

15th February, 2018

ENI announced “promising” gas discovery in Cyprus’ Block 6

Italian oil & gas giant ENI has announced a “promising” gas discovery in Cyprus’ Block 6, noting that the discovery confirms the extension of the “Zohr like” play in Cyprus’ Exclusive Economic Zone (EEZ).

09th February, 2018

Double tax treaty signed between Cyprus and Saudi Arabia

A double tax treaty for the avoidance of double taxation between Cyprus and Saudi Arabia was signed on the 3rd January 2018 and is expected to come in force on 1st January 2019.

09th February, 2018

Incentives or Tax deductions for investment in small and medium size innovative business

The Cyprus Government aiming to give motive and to produce investments introduced a new framework with tax incentives for investments in small and medium sized innovative business.

07th February, 2018

Building permits up by 53%

An increase of 52.6% was recorded in the total amount of building permits in the period January - November 2017, while the total area of the permits issued increased by 45.1%.

07th February, 2018

New home building permits up 41 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 41.4 per cent in October 2017 compared to October 2016 according to the Cyprus Statistical Service.

17th January, 2018

Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which we have summarised together with other changes in this article.

05th January, 2018