Cyprus Real Estate News

Several thousand apartments are anticipated to significantly boost the supply of housing as the construction of 541 apartment buildings is expected to be completed in the coming months. The construction boom aims to address the pressing issue of housing scarcity due to significant increases in market prices and rents in recent years. Various factors contribute […]

In February 2024, the total number of property sales contract deposited at Land Registry offices across Cyprus reached 1,284; an increase of 14% compared to the 1,131 contracts deposited in February 2023, according to official sales statistics published by the Department of Lands and Surveys. Although sales fell in Famagusta and Limassol by 7% and […]

PwC Cyprus presented its annual report for the Cypriot real estate market, which includes important information about the sector’s performance in 2023. The event titled, “Evolving landscape and the need for new policies and reforms,” was held on Thursday, February 29, 2024, at PwC’s Experience Center in Nicosia; in the presence of the Minister of […]

Cyprus ranks 12th in the 2024 Residence Program Index published by Henley & Partners with a score of 59 out of 100. The index comprises the residence programs of 26 countries and considers 10 factors including Reputation, Quality of Life and Investment Requirements. The top spot is taken by Portugal, which scores 75 out of […]

The bill proposing the establishment and management of up-market “glamping” campsites, which has been lingering in Parliament for nearly a year, is being reintroduced to the Plenary by the Parliamentary Committee on Tourism. During a review of the bill, postponed since July 13, 2023, the committee decided to present it to the full House at […]

Ask Wire, a Cypriot real estate analytics firm, has released a report on the ten most expensive property transactions in Cyprus for January 2024. The top ten property sales across the island during January amounted to €14.3 million, with the most expensive transaction involving land and a building in Potamos Germasogeias, Limassol, which fetched €2.97 […]

The Cyprus Asset Management Company Ltd (KEDIPES) has sent letters to a number of home buyers ‘inviting’ them to pay eye-watering amounts of money, otherwise it will auction their homes. This may not seem unusual applying the principle “if you can’t pay, we’ll take it away”. However, there’s a fundamental problem that KEPIDES appears to […]

The 57th 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. Speaking on behalf of KPMG in Cyprus, Christophoros Anayiotos, Head of Real Estate Industry Group, commented, “The upward trend in Cyprus […]

Interior Minister Constantinos Ioannou on Thursday highlighted “significant improvements” in the examination and issuance of property Title Deeds, which, according to him, will help reducing the average processing time to three months from the previous one to three years. Addressing a seminar organised by the Pan-Cyprian Association of Land Development and Construction Entrepreneurs, Ioannou underlined […]

The ripple effect describes how property prices in one area influence those in others, as seen with London’s impact on the UK market, whereby changes in house prices in the UK are noted first in London before being observed in other regions. In price booms, for example, house prices have tended to rise first in […]

On Thursday, the Cypriot real estate analytics firm Ask Wire published the Q4 2023 edition of its Ask Wire Index for property sale and rental values. The Index covers all districts and main property types (houses, apartments, commercial) with values from Q4 2009 Key findings houses & apartments Rental values remained stable over the quarter, […]

In January 2024, the total number of property sales contract deposited at Land Registry offices across Cyprus reached 1,056; a fall of 3% compared to the 1,091 contracts deposited in January 2023, according to official sales statistics published by the Department of Lands and Surveys. However, it’s only the fifth year in the last nineteen […]

Short-term rental properties are increasing in popularity in Cyprus, quickly becoming a mainstay in the accommodation choices of both travellers and locals, according to Yiannis Kotzias, general manager of operations at Phaedrus Living, a proptech residential rental platform. “This is a natural progression considering the global momentum short-term rentals have gained, and Cyprus, being a […]

A legal case involving a 67-year-old mother and her 31-year-old son is currently pending before the Limassol District Court. The mother has filed a complaint against her son, alleging misconduct. According to confirmed information from philenews, the accused is alleged to have secured €370,000 by selling his mother’s property without her knowledge. The 31-year-old, in […]

On Friday, the Cyprus Real Estate Agents Registration Council said that the local property market performed robustly during the fourth quarter of 2023, despite inflationary pressures, high interest rates, and soaring property prices. According to the comparative property sales data compiled and presented in the council’s quarterly property market update bulletin, a total of 3,534 […]

Cypriot real estate data analytics firm Ask Wire on Monday released a report outlining the ten most lucrative property transactions completed in Cyprus during 2023, along with additional analysis pertaining to the Cypriot property market. In its report, the company highlighted key trends, which again showed the dominance of high-value deals, particularly in the district […]

The legal protection offered to those property buyers in the Republic of Cyprus has been enhanced by  amendments to ‘The Sale of Real Estate (Special Execution) Laws of 2011 to 2020’. Among other things, the amendments require the vendor (seller) of the property to include a Search Certificate in the contract of sale, which must […]

The Cabinet has given the green light to implementing the ‘Photovoltaics for All’ scheme, subsidising up to 6,000 homeowners to install solar systems on their roofs, which will be up and running from the end of next month. The subsidy scheme comprises five distinct categories, each crafted to “democratise access to solar energy and roof […]

The Cyprus property market appears poised for a challenging year, marked by organic, market-driven price reductions, which may be offset by supply chain disruption, stemming from geopolitical conflicts, according to the president of the Cyprus Council for Registration of Real Estate Agents Marinos Kyneyirou. In a recently published piece of analysis, Kyneyirou said that 2023 […]

By a unanimous vote the House on Thursday passed legislation that provides for halting the auctioning off of properties where the mortgage debtor has applied for the ‘Mortgage-to-Rent’ scheme. It concerns auctions on first dwellings. And under an amendment that also passed, suspending these auctions was expanded to include debtors who applied to the ‘Mortgage-to-Rent’ […]