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Instability expected in Cyprus real estate sector
Although it’s too early to make any conclusions, there are indications that the Cyprus real estate sector may experience significant instability and uncertainty in 2020 according to a PwC report. While the first half of 2019 recorded a 25% increase over the corresponding period of 2018, Q3 2019 saw a 35% decrease in the total value of transactions, dashing hopes for furth...
Real Estate
Sunday, 24 November, 2019
les mer
Marginal rise in October property sales
October saw a marginal rise in Cyprus property sales compared to the corresponding month last year according to the latest official figures released by the Department of Lands and Surveys. During the first ten months of 2019, the number of sales has risen by 14% to reach 8,549 compared to 7,517 in the corresponding period last year. Although sales have declined by 1% in Famagus...
Real Estate
Wednesday, 06 November, 2019
les mer
Weakening property sales
Cyprus property sales have fallen significantly following the introduction of stricter criteria for acquiring passports in May highlighting the real market’s dependence on the ‘citizenship by investment’ scheme. Earlier this year property sales surged as foreign investors rushed to buy property in Cyprus before the government introduced stricter criteria. But ...
General
Thursday, 10 October, 2019
les mer
Rise in property sales led by local and EU buyers
The rise in property sales during September was led by local and overseas buyers from the EU who between them purchased 47 (10%) more properties than September 2018 say official figures.There was a marginal rise of 1% in property sales during September compared with September 2018. While the combined total of sales to local and overseas buyers from the EU rose by 10%, sales to ...
Real Estate
Monday, 07 October, 2019
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Cyprus property sales surge in May
During May 2019 a total of 1,423 contracts were deposited for the sale of commercial and residential properties and land compared with 828 in May 2018 – and the largest monthly figure recorded since July 2008 when 1,542 contracts were deposited. Of those 1,423 contracts, 800 (59%) were deposited by Cypriots and the remaining 623 (41%) by non-Cypriots – 147 of whom w...
General
Thursday, 20 June, 2019
les mer
Sharp rise in property sales in February
February saw a sharp rise in property sales compared to the numbers sold in the corresponding month last year according to official figures published by the Department of Lands and Surveys.
Apart from a 48% fall in sales in December 2018 due to the rush to buy land in December 2017 before the government introduced VAT on land sales, the number of property sales has i...
Real Estate
Sunday, 10 March, 2019
les mer
ExxonMobil makes biggest natural gas discovery in two years off the coast of Cyprus
Cyprus has hailed a significant discovery of natural gas offshore, highlighting the Mediterranean island’s prospective role as an alternative source of energy to Europe.
Amid rising tensions over hydro carbons in the eastern Mediterranean, the US energy giant ExxonMobil announced that deep-water drilling south of the coastal city of Limassol had yielded “encouragin...
General
Thursday, 28 February, 2019
les mer
Property sales continue to rise in January
The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys. With the exception of December 2018, when sales fell by 48 per cent due to the rush to buy land in December 2017 before the government introduced VAT on land sales, the number ...
Real Estate
Monday, 11 February, 2019
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December property sales disappointment
Following nineteen consecutive months of rising property sales in Cyprus, December 2018 sales saw a crash in their number according to official figures published by the Department of Lands and Surveys.During December a total of 800 contracts were deposited at Land Registry offices for the sale of commercial and residential properties and land compared with 1,537 in December 201...
Real Estate
Sunday, 13 January, 2019
les mer
Cyprus real estate sector looking up
Cyprus’ real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high. The number of 2018 H1 sales represent an uplift of 24% compared to the 3,610 sale contracts filed at the land registry during H1 2017. According to PwC, the messages in the report are c...
Real Estate
Tuesday, 13 November, 2018
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