Cyprus Real Estate News

Cyprus to expand mortgage relief scheme (Fri, 22/01/2021 - 20:48)

Story: Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who failed to make the first cut, as they were found unviable. Acting government spokesperson Panayiotis Sentonas said on Wednesday that Finance Minister Constantinos Petrides has been tasked by the cabinet to draft a plan for borrowers […] Read more...

What is a property boundary dispute? (Fri, 22/01/2021 - 18:32)

Story: A property boundary dispute normally arises between registered owners when ownership of a section of a common boundary or an entire common boundary is contested. Although the Department of Lands & Surveys in Cyprus maintains all relevant title maps and documentation indicating the ownership of property boundaries in Cyprus, boundary disputes nevertheless do arise, usually […] Read more...

Greens concerned over high rises on Paphos coast (Tue, 19/01/2021 - 10:27)

Story: An existing Paphos hotel on the seafront of the town is earmarked for demolition with three nine-storey buildings due to take its place, the local green party announced on Monday. An announcement in a newspaper three days ago stated that anyone requesting information or wishing to submit proposals should do so within seven days. “This […] Read more...

Small rise in building new homes (Fri, 15/01/2021 - 13:58)

Story: There was a small rise in the number of building permits authorised for building new homes in October 2020 compared to the same month in the previous year according to official statistics published on Wednesday. During October 2020 a total of 583 building permits were authorised by the municipal authorities and the district administration offices. […] Read more...

Buying property in Cyprus and visiting post Brexit (Thu, 14/01/2021 - 18:03)

Story: When the Brexit transition period came to an end on 1st January 2021, UK citizens became “third country” nationals; a generic term describing non-EU member states. Cyprus (particularly Paphos) is a hot-spot for Brits seeking a second home in the sun. But now, as third country nationals, what Brits are permitted to purchase and the […] Read more...

Cyprus house price index falls 4.8 per cent (Thu, 14/01/2021 - 16:00)

Story: The Cyprus House Price Index (HPI) fell by 4.8 per cent in the third 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 fell by 1.3 per cent on an annual […] Read more...

Will Cyprus real estate market hold in 2021? (Thu, 14/01/2021 - 12:58)

Story: While uncertainties remain for 2021, the Cyprus property market will continue to show its strength. With at least two viable vaccines, low mortgage rates, tight supply and supportive government initiatives; the housing market will remain stable in 2021. Property sales in 2020 fell by 23% compared to 2019; while almost all of the year of […] Read more...

Case against massive hillside development lost (Wed, 13/01/2021 - 12:44)

Story: Peyia is mulling what steps to take after losing a court case to block the development of a hillside above the Paphos town. The local municipality had challenged the government’s decision to issue a planning permit for a massive development at Ayia Vouni (Sacred Mountain), a hillside that overlooks Peyia, saying that it would irreversibly […] Read more...

Loan repayment holiday until June 2021 (Sun, 10/01/2021 - 13:37)

Story: The Central Bank of Cyprus (CBC) has approved a new loan repayment moratorium until the end of June because of the COVID-19 pandemic’s consequences on […] Read more...

Real Estate Outlook 2021: Focus shifting to new opportunities (Sun, 10/01/2021 - 12:14)

Story: The New Year has entered with a sense of optimism as vaccines are getting more widely available to the public by the day. According to […] Read more...