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Despite ongoing regional and global challenges, the Cyprus property market has shown remarkable resilience, buoyed up by...
12/01/2025

Despite ongoing regional and global challenges, the Cyprus property market has shown remarkable resilience, buoyed up by favourable conditions and sustained foreign interest over the past two years. The outlook for 2025 remains optimistic. Foreign nationals, including EU and third-country citizens, comprised around 40% of all property transactions in 2023 and 2024. Their robust participation underscores their confidence in the Cyprus property market and highlights their critical role in maintaining its upward trend....

The Cyprus property market has shown remarkable resilience, buoyed up by favourable conditions and sustained foreign interest.

The Cyprus House Price Index (HPI) rose by 2.7 per cent on an annual basis in the third quarter of 2024 according to pre...
11/01/2025

The Cyprus House Price Index (HPI) rose by 2.7 per cent on an annual basis in the third quarter of 2024 according to preliminary figures in a press release issued by the island’s Statistical Service (CYSTAT). Compared to the second quarter of 2024, the HPI rose by 0.7 per cent in the third quarter. The base year for the HPI is 2015=100 and the Index at the end of Q3 2024 stood at 110.65....

The Cyprus House Price Index (HPI) rose by 2.7 per cent on an annual basis in the third quarter of 2024 according to CYSTAT.

In the third quarter of 2024, both house prices and rents in the EU showed increases compared to the same period in 2023...
11/01/2025

In the third quarter of 2024, both house prices and rents in the EU showed increases compared to the same period in 2023. House prices rose by 3.8%, while rents saw a 3.2% increase. Compared to the second quarter of 2024, house prices went up by 1.4% and rents by 0.9%. This data, released yesterday by Eurostat, summarizes key findings from their detailed…...

In the third quarter of 2024, both house prices and rents in the EU showed increases compared to the same period in 2023.

The Deputy Ministry of Tourism has announced a January 25 deadline for stakeholders to submit suggestions on the Paphos ...
10/01/2025

The Deputy Ministry of Tourism has announced a January 25 deadline for stakeholders to submit suggestions on the Paphos Marina project, following the release of its basic specifications. George Mais, president of the Paphos Chamber of Commerce and Industry, explained that the ministry published the marina's key features before Christmas to enable potential bidders and consortia to begin preparations....

The Deputy Ministry of Tourism has announced a January 25 deadline for stakeholders to submit suggestions on the Paphos Marina project.

The number of properties sold in Cyprus during 2024 reached the highest level on record since 2007, with a total of 15,7...
07/01/2025

The number of properties sold in Cyprus during 2024 reached the highest level on record since 2007, with a total of 15,797 contracts deposited with the Department of Lands and Surveys. However, as you will read later in this report, sales to the overseas market have been falling, while sales to the domestic market have been slowing. How the market will perform in 2025 remains to be seen....

The number of Cyprus property sales in 2024 reached the highest level on record since 2007 according to the Department of Lands and Surveys.

Applications for a 2% mortgage interest rate subsidy opened on Thursday 2 January for households that have taken out loa...
04/01/2025

Applications for a 2% mortgage interest rate subsidy opened on Thursday 2 January for households that have taken out loans for owner-occupied housing. The scheme aims to mitigate the negative effects of inflation and rising interest rates on disposable incomes Information provided to StockWatch by the implementing agency, the General Accounting Office of the Republic, indicates that the scheme is available to individuals who secured loan agreements between 1 January 2022 and 31 December 2023 for the purchase or construction of their first home....

Applications for a 2% mortgage interest rate subsidy opened on Thursday 2 January for households with loans for owner-occupied housing.

The ten most expensive property sales across Cyprus in November totalled €20.9 million, with the most expensive being of...
04/01/2025

The ten most expensive property sales across Cyprus in November totalled €20.9 million, with the most expensive being offices in Neapolis, Limassol, which sold for €5.4 million, according to technology driven company Ask Wire. The list of the 10 most expensive properties is dominated by Limassol district with seven transactions worth a total of €17 million. The top ten is completed by Paphos district with two sales worth a total of €5.1 million and Nicosia with one sale worth €2 million....

In November, the 10 most expensive property sales in Cyprus totalled €24 million with the most expensive sale being offices in Limassol.

Approximately 60,000 photovoltaic systems are currently installed on household rooftops, according to statements by the ...
03/01/2025

Approximately 60,000 photovoltaic systems are currently installed on household rooftops, according to statements by the Minister of Energy, George Papanastasiou. Speaking on state radio, Mr. Papanastasiou noted that energy production from renewable energy sources in Cyprus today has reached 950 MW, while consumption peaks at around 400 MW on the most demanding days. Mr. Papanastasiou highlighted that the majority of the 950 MW comes from photovoltaic systems, specifying that over 300-350 MW is generated by residential photovoltaics installed on approximately 60,000 households....

Approximately 60,000 photovoltaic systems are installed on household rooftops, according to the Minister of Energy, George Papanastasiou.

Pyla, a mixed community with a unique administrative status, is undergoing unprecedented growth, emerging as one of Larn...
03/01/2025

Pyla, a mixed community with a unique administrative status, is undergoing unprecedented growth, emerging as one of Larnaca's most desirable areas. The surge in property demand, driven by both local and international interest, has spurred rapid development across the region. Simos Mytides, President of the Pyla Community Council, recently highlighted the area's remarkable progress, stating that "Pyla currently has one of the highest development rates across Cyprus."...

Pyla is undergoing unprecedented growth, emerging as one of Larnaca's most desirable areas for property investment.

Cyprus' apartment market presents a stark contrast between Limassol and Nicosia, as highlighted by real estate analytics...
24/12/2024

Cyprus' apartment market presents a stark contrast between Limassol and Nicosia, as highlighted by real estate analytics firm Ask Wire. Limassol's luxury apartment prices soar to €5 million, while Nicosia offers affordable options starting at just €50,000. Together, these cities dominate the country's apartment sales, accounting for the majority of transactions. Using data from the Department of Lands and Surveys…...

Cyprus' apartment market presents a stark contrast between Limassol and Nicosia, as highlighted by real estate analytics firm Ask Wire.

The Cyprus property market is expected to experience slower growth in 2025 following its strong post-pandemic recovery, ...
24/12/2024

The Cyprus property market is expected to experience slower growth in 2025 following its strong post-pandemic recovery, as new challenges emerge that demand strategic responses, according to a recent industry survey. Danos International Property Consultants and Valuers predicts moderate growth over the next two years. External factors, such as regional conflicts, are expected to pose challenges; however, these are likely to be offset by stabilizing elements within the market....

Growth in the Cyprus property market is expected to slow in 2025, but it will remain a critical economic activity in future years.

Cyprus property news attracted more than three quarters of a million visitors this year and, as we approach Christmas, h...
20/12/2024

Cyprus property news attracted more than three quarters of a million visitors this year and, as we approach Christmas, here are the top 10 articles and news reports that have attracted the most interest from you, our readers, over the past twelve months. Our top 10 news stories and articles of 2024 in reverse order: Number 10: Faster Title Deeds issuance announced…...

Our top 10 stories for 2024 include ongoing problems faced by 'trapped buyers' and changes to jointly-owned property & swimming pool laws.

Two charges relating to the Al Jazeera undercover investigation into Cyprus' infamous 'Golden Passport' scheme, involvin...
17/12/2024

Two charges relating to the Al Jazeera undercover investigation into Cyprus' infamous 'Golden Passport' scheme, involving former House President Demetris Syllouris, former AKEL MP Christakis Giovani, and Giovani’s company director Antonis Antoniou remain uncertain. The case was brought before the Nicosia Criminal Court yesterday for procedural planning, with all three defendants attending with their legal representatives. During the session, both the defence and prosecution agreed to continue collaborating on establishing agreed facts and finalising witness lists to streamline the trial process....

Two charges relating to the Al Jazeera undercover investigation into Cyprus' infamous 'Golden Passport' may be withdrawn.

A 62-year-old man has been jailed for seven years after being found guilty of fraud after promising individuals to build...
17/12/2024

A 62-year-old man has been jailed for seven years after being found guilty of fraud after promising individuals to build houses that were never built. The sentencing took place on Monday after the man was found guilty of taking substantial amounts of money under false pretences. The case began when one of the victims filed a complaint with the police, leading to the man's arrest....

A man has been jailed for seven years after being found guilty of fraud after promising individuals to build houses that were never built.

Stakeholders have welcomed the proposal to transfer the management of the Larnaca marina to the Cyprus Marine and Mariti...
17/12/2024

Stakeholders have welcomed the proposal to transfer the management of the Larnaca marina to the Cyprus Marine and Maritime Institute (CMMI), but sharp disagreements persist over the port's development plans. Many local stakeholders are calling for the Cyprus Ports Authority's €86 million, three-phase development proposal to be reconsidered. They argue that the plan addresses key infrastructure needs and aligns with the region's long-term growth strategy....

The upcoming discussions and planned studies will be pivotal in shaping the future of Larnaca's port and marina development.

The Ministry of the Interior has announced that building permits for low-risk developments (Category A), involving up to...
17/12/2024

The Ministry of the Interior has announced that building permits for low-risk developments (Category A), involving up to two residential units, will now be issued within 48 working hours. This fast-track process applies to applications submitted before July 1, 2024, according to an official statement. Applicants with pending applications submitted before this date can resubmit them under the new procedure, which involves completing a special checklist and submitting it to the District Self-Government Organisations (???)....

Building permits for low-risk developments (Category A), involving up to two residential units, will now be issued within 48 working hours.

According to the latest statistics from the Department of Lands and Surveys, property sales in Cyprus saw a 9% increase ...
12/12/2024

According to the latest statistics from the Department of Lands and Surveys, property sales in Cyprus saw a 9% increase in November compared to the same month last year. The total number of sales, measured by the number of contracts deposited in Land Registry offices in the island’s free areas, reached 1,506, up from 1,386 in November of the previous year....

The number of Cyprus property sales in November rose compared with the numbers sold in November last year according to official statistics.

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