Cyprus is considering easing residency permit requirements for wealthy foreign nationals under a proposed bill. The proposed legislative changes would grant residency permits to third-country nationals who invest €250,000 in housing and have an annual income of €40,000. According to the bill, a residence permit may be granted to a wealthy third-country national who intends to reside in...
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The need for housing leads either to borrowing or renting, but both options are costly affairs. The majority of young couples do not have the financial capability to buy without resorting to borrowing and without having a sum set aside, as banks do not finance 100% of the property value but only 70% or 80% depending on the bank and the category of the potential borrower. However, the question is how...
In the last quarter of 2023, property prices in Cyprus experienced a minor setback every quarter, yet sustained annual growth. According to the preliminary estimates released by the Cyprus Statistical Service (CyStat), the House Price Index (HPI) stood at 109.95 points for the fourth quarter, marking a slight decrease of 0.6% from the previous quarter but an increase of 1.6% from the same period in...
February Real Estate Sales in Cyprus. A Market Analysis The real estate market in Cyprus is showing promising signs of growth, with the total number of property sales rising by 14% in February compared to the same period last year. This positive momentum is further bolstered by an analysis from the Department of Lands and Surveys, indicating a potential recovery in sales to EU nationals after a period...
Cyprus Real Estate Sector proved resilient in 2023 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...