Cyprus Real Estate News

Cyprus real estate market review (Mon, 12/04/2021 - 13:15)

Story: PwC Cyprus ‘Cyprus Real Estate Market – Year in Review 2020’ provides insights into the behaviour of the Cyprus economy in general and presents key real estate market developments, focusing on the performance of the sector during 2020. PwC reports that the Real Estate and Construction sector continues to be one of the key pillars […] Read more...

NPLs fell by €3.86 billion in 2020 (Sat, 10/04/2021 - 14:13)

Story: Non-performing loans (NPLs) in the Cyprus banking system dropped to €5.11 billion at the end of 2020; a fall of €3.86 billion compared to the same period of 2019, according to data published the Cyprus Central Bank. The annual drop of 43% is attributed mainly to the sale of a NPL portfolio by the Bank […] Read more...

Cyprus house price index up 4.7% (Fri, 09/04/2021 - 15:56)

Story: The Cyprus House Price Index (HPI) rose by 4.7 per cent in the fourth quarter of 2020 compared to the previous quarter according to preliminary figures in a press release issued by the island’s Statistical Service (CYSTAT). The HPI also reports that residential property prices in Cyprus rose by 2.4 per cent on an annual […] Read more...

Cyprus house prices and rents fallen since 2010 (Thu, 08/04/2021 - 20:01)

Story: House prices and rents in Cyprus fell 3.4 per cent and 4.1 per cent respectively between 2010 and the fourth quarter of 2020, according to the European statistical service Eurostat. Between 2010 and the second quarter of 2011, prices and rents in the EU followed similar paths. Since the second quarter of 2011, they have […] Read more...

Building permits fall in number, value and area (Thu, 08/04/2021 - 19:26)

Story: Although there was a small increase in the number of building permits authorised for the construction of new homes in Cyprus during January 2021, the total number of permits authorised fell in terms of their number, value and area compared to January 2020. The total number of permits fell to 494 (-8.2%), their total value […] Read more...

Rethinking the value and cost of real estate (Thu, 08/04/2021 - 15:28)

Story: This article doesn’t concern itself with the etymology of the cost, price, value and worth of real estate; it focuses on the mess these terms are causing to the banking system. In everyday language, cost, price, value, and worth are often interchangeable, but they have special meanings in the Real Estate business. Cost is the […] Read more...

Cyprus property sales surged in March (Mon, 05/04/2021 - 16:28)

Story: After a disappointing start to the year property sales in Cyprus surged in March, 12 months after the country went into lockdown according to official figures released today by the Department of Lands and Surveys. During August, the total number of contracts deposited at Land Registry offices for the sale of residential property, commercial property, […] Read more...

Cyprus seeks to attract long term investors (Sun, 04/04/2021 - 13:24)

Story: To further attract foreign investment to the island and help economic recovery, Cyprus announced amendments to Regulation 6 (2) of the Aliens and Immigration Regulations, which came into effect on March 24. The regulation gives non-EU nationals the right to reside in Cyprus permanently. The revision is in line with the Government’s objective to stimulate […] Read more...

Better days for the Cyprus property market lie ahead (Wed, 31/03/2021 - 18:38)

Story: In our article in January, we have proclaimed that on average Cyprus real estate market will remain relatively stable in 2021 while in the first quarter of 2021; both the number of sales and values might see a slight reduction before re-entering a period of steady recovery through the remaining year. By taking into consideration […] Read more...

MPs pass unconstitutional Cyprus property law (Wed, 31/03/2021 - 15:37)

Story: The Cyprus parliament passed an unconstitutional law that could have resulted in problematic and even dangerous properties being sold to unsuspecting buyers. The law ‘The Immovable Property (Tenure, Registration and Valuation) Law (Amendment), (No 2)’, which was published 26 March, lifted the ban on the sale of properties that suffered from serious planning and construction […] Read more...