Cyprus Real Estate News

Story: An analysis reveals that Limassol is top of props offering the highest rental yields of 7.8% for two-bedroom apartments and the island’s highest market values of the properties analysed. Speaking to Cyprus Property News, Dr Charalambos Pitros PhD MRICS, Managing Partner at Zyprus Property Group, said the Group’s analysis was based on data published by […] Read more...

Story: The announcement of the competition for hiring consultants for the preparation of documents for the Paphos Marina project has been postponed until mid-September, following a series of delays and complications. George Mais, President of the Paphos Chamber of Commerce and Industry (EBE), revealed that the delay in the marina project was attributed to issues with […] Read more...

Story: For retirees, particularly those from the UK, the Cyprus property market presents both opportunities and challenges. With interest rates and construction costs on the rise, a tailored strategy is essential. This enhanced guide aims to delve deeper into specific strategies like renting out property, investing in older homes, and downsizing. Retirees face unique challenges in […] Read more...

Story: Following the ending of the freeze on repossessions at the end of January 2023, lenders sent hundreds of letters to defaulting borrowers repossessing their homes and putting them under the hammer. The letters, which informed borrowers that their homes would be repossessed and auctioned were sent in the space of just two months and involved […] Read more...

Story: Prices in the Cyprus real estate market have been going up in recent years. This increase is mainly due to higher costs of construction materials and growing demand. As a result, both rent prices and home/apartment sales are on the rise. Lately, it has become noticeable that many property owners, land developers and individuals are […] Read more...

Story: A total of 1,383 properties worth a total of €437.9 million were sold in Limassol in the second quarter of 2023 according to Ask Wire, a company that combines expertise in the real estate sector with the use of technology. As can be seen from the analysis of the data, during the reporting period, 499 […] Read more...

Story: The Cyprus construction sector saw a 16.5 per cent increase in the total value of building permits during the first half of 2023, as well as a 3 per cent increase in their total area, according to a report released this week by the Cyprus Statistical Service (Cystat). The increase in the value and total […] Read more...

Story: During August, one third of all property sales in Cyprus (as assessed by the number of contracts deposited at Land Registry offices) were purchased by non-EU citizens, according to official statistics published by the Department of Lands and Surveys. Market segment analysis Property sales to non-EU citizens Sales to non-EU Nationals rose 34% compared to […] Read more...

Story: The chronic issue of land subsidence in Pissouri continues to escalate, as a landslide upend the lives of residents. The matter has occupied the attention of the Ministry of Interior in recent days, leading to a meeting involving the Ministers of Transportation and Agriculture. During the meeting, the formation of an inter-ministerial committee under the […] Read more...

Story: While the number of property sales in August rose compared to August 2022, the increase of 28% in the year-to-date sales reported at the end of June had fallen to 20% by the end of August, which indicates that the market may be slowing down. The slowdown is likely due to rising interest rates and […] Read more...

Story: Buyers are more cautious, taking more time to decide In response to the increase in interest rates, we’ve observed several budget adjustments among borrowers. Also, currently, property buyers are opting for more deliberate and considered purchases. This means, the duration required from estate agents and property professionals to guide clients towards finding their ideal property […] Read more...

Story: During an upward trend in property sales, the Real Estate Agents Registration Council highlighted the Larnaca district’s remarkable performance in the first half of 2023. According to data from the Land Registry cited by the Council, Larnaca recorded a significant performance in the first six months for houses, apartments, plots, and fields, surpassing the Paphos […] Read more...

Story: Once lagging in urban development compared to the other cities, Larnaca is undertaking multimillion projects, says the town’s mayor and local economy stakeholders. In comments to news site Stockwatch, Larnaca Mayor Andreas Vyras said the coastal town’s future looks brighter, as foreign investors are excited about its potential. “New life is expected to be breathed […] Read more...

Story: The Cyprus Statistical Service (Cystat) has released a snapshot of the 2021 census which includes the numbers of people and dwellings (houses and apartments) for each municipality and community across Cyprus. A prior snapshot provided information on Cyprus’ household size, broken down by district. Combining the two datasets gives us a great insight into how […] Read more...

Story: The long-awaited marina of Paralimni is taking shape, with construction work progressing at a rapid pace. It should be noted that the development project has already become a pole of attraction for investors and, according to the schedule, will be fully completed in the summer of 2024, with the first phase ready at the end […] Read more...

Story: The 55th quarterly publication of the RICS Cyprus Property Index with KPMG in Cyprus records the property price and rental index, tracking property and rental prices across all Cyprus districts and main property types. Market values year-on-year During the second quarter of 2023, a further increase was recorded in the prices of residential properties (with […] Read more...

Story: A new Jointly-Owned Buildings law, which aims to resolve chronic problems of management committees and various other practical problems with the current law, has been approved by the Council of Ministers according to reports in the Greek language media. Once the precise legal wording of the new law has been prepared it will be placed […] Read more...

Story: Although the number of property sales in July rose compared to the same month last year, there may be signs that the remarkable 28% increase in the number of sales reported in the first half of the year may be slowing. In a statement yesterday, the president of the Cyprus Real Estate Agents Registration Council […] Read more...

Story: The Cyprus property market recorded an upswing during the first quarter of 2023, with prices continuing to rise, particularly for flats, driven by increased demand. According to data published Tuesday by the Central Bank of Cyprus (CBC), the Residential Property Price Index (RPPI) showed a significant acceleration compared to previous quarters. Indicators for property sales […] Read more...

Story: Ask Wire, the tech-informed real estate company, has published its Q2 2023 edition of the Ask Wire Index for property sale and rental values. The Ask Wire Index covers all districts and main property types, with values from Q4 2009. Prices Across Cyprus, on an annual basis, prices increased by 12.2% for apartments, 4.6% for […] Read more...