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Improving Property Title Deed Issuance – Cyprus Government’s Commitment to Streamlining Processes

Interior Minister Constantinos Ioannou recently highlighted significant strides in the examination and issuance of property Title Deeds, aiming to reduce the average processing time from one to three years down to just three months.  Speaking at a seminar organised by the Pan-Cyprian Association of Land Development and Construction Entrepreneurs, Ioannou emphasised the government's dedication to...

EC approved interest subsidy scheme for housing loans

The European Commission's DG Competition has approved an interest subsidy scheme for housing loans concluded between January 1, 2022 until December 31, 2023 and concern the purchase or construction of a primary residence for families with an annual income of 50,000 euro, Government Spokesperson Konstantinos Letymbiotis said on Tuesday.  Speaking during a press briefing at the Presidential...

Cyprus Real Estate Market Overview – Fourth Quarter 2023

Amidst inflationary pressures and soaring property prices, the Cyprus Real Estate Agents Registration Council reports robust performance in the local property market during the fourth quarter of 2023. Despite challenges, the market demonstrated resilience, reflecting continued investor interest and activity.  According to the council's quarterly property market update bulletin, a total of 3,534...

EU Approval Paves the Way for Reduced VAT on First Homes in Cyprus

The European Commission has granted approval for the implementation of a reduced 5% VAT on first homes in Cyprus, marking a significant milestone in the country's real estate landscape. Finance Minister Makis Keravnos announced the news, attributing the success to the tireless efforts of the finance ministry.  This decision by the European Commission's Directorate-General for Competition is a...

Changing Tides – Shifting Preferences Drive Surge in Cyprus Apartment Demand

The construction landscape in Cyprus is undergoing a transformative shift, propelled by a surge in demand for apartments from both local and international buyers. Developers are adapting to this evolving trend, with key insights shared by Stelios Gavriel, Secretary of the Federation of Cyprus Building Contractors Associations.  The traditional preference for standalone houses is giving way to a...

Cyprus Housing Market Surges – Q3 2023 Unveils Dynamic Growth and Shifting Trends

The Republic of Cyprus continues to witness an upward trajectory in housing prices, particularly in the apartment segment, as indicated by data released by the Central Bank of Cyprus (CBC) on Wednesday. The Residential Property Price Index (RPPI), monitored by the CBC, reflects consistent increases on both an annual and quarterly basis.  The surge in demand is attributed to a dual impact from...

Counting Down to Christmas – The Festive Buzz in Cyprus

With only a few days left until Christmas, Cyprus is alive with the palpable excitement of the holiday season. The air is filled with the scent of freshly baked treats, and the streets are adorned with twinkling lights, creating an atmosphere of warmth and anticipation. Here's a glimpse into the festive buzz that envelops this Mediterranean island just days before Christmas. The entire island is bathed...

Christmas in Cyprus – A Festive Journey Through Traditions

Cyprus transforms into a magical winter wonderland during the Christmas season. The festive spirit fills the air as residents and visitors alike embrace cherished traditions that have been passed down through generations. Immerse yourself in the enchanting ambiance of this Mediterranean haven and discover the enchanting Christmas traditions that make Cyprus a truly special place to celebrate the...

Embrace the Festive Spirit – Christmas Villages in Cyprus Return for the Third Edition

Get ready to be enchanted as the picturesque rural villages of Cyprus don vibrant hues of red, white, and green from 25th November onwards. The Deputy Ministry of Tourism is all set to unveil a captivating winter agenda, bringing back the beloved Christmas Villages for their third year.  This year's lineup features a delightful array of villages, including Agros, Deryneia, Kalopanayiotis,...

Celebrating 40 Years of Growth and Evolution in Cyprus Real Estate

During the Cyprus Land and Building Developers Association’s (LBDA) 40th annual general assembly on November 16, President Pantelis Hadjipanayiotou reflected on the industry's journey marked by growth, challenges, and resilience.  "In these 40 years, our industry has experienced significant growth, evolution, and modernisation," Hadjipanayiotou remarked. He acknowledged both small and...

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