Real Estate News

The end of the outgoing 2016 was marked by a new luxury project – Terra Tower, which was presented by Lebanese company at an exhibition in Beirut.

The Ministry of Transport has unveiled its new plan to attract a strategic investor for the development of the Larnaca port and marina and includes berths for Giga yachts and cruise ships.

December 2016 saw the largest amount of property sale and purchase deals in Cyprus since September 2008.

Thai company Wyncoast is the only bidder for development and operation of a science and technology park in the area of Pentakomo, near Limassol.

Cyprus property market continues to show significant growth and interest from buyers, both local and foreign citizens. As the result of this interest there are many new construction projects all over the island.

The Assistant Secretary of State for European and Eurasian Affairs at the US State Department,Victoria Nuland, is expected to visit Cyprus this Friday, 14th of October. The aim of the visit is to express support on behalf of the US administration to the intensive settlement talks that are taking place between...

“According to CNA a franchise agreement has been signed between The Rezidor Hotel Group and Quality Group, the owning company of the hotel, which foresees the construction of an upper upscale, 105-unit hotel and serviced apartments in the port area of Larnaca” the press release said.

According to Cyprus Business Mail property transactions in Cyprus rose an annual 23 per cent in October, three months after the parliament passed a tax breaks package aiming at boosting activity in the real estate sector.

Cyprus property index published by British experts from RICS for the last quarter of 2015 has displayed that despite the trend of general property price reduction across the island, the actual coefficient of decrease has been gradually declining.

Few people know, that after the bail-out crisis of 2013, when thousands of house mortgages and property taxes remained unpaid, Cyprus was saved from bankruptcy by an unexpected hero in the face of the Tel-Aviv based Ofek Air and their unique aerial photography project.

During July a total of 625 contracts for the sale of commercial and residential properties and land were deposited at Land Registry offices across the island.

The good news however is that this year there are significant discounts as high as 75 per cent. For those who will settle their IPT ahead of the early-bird deadline, which is October 31, they will get a 75 per cent discount on their due amount, thus paying only 25 per cent of the total.