Real estate and construction stakeholders want the government to soften the blow delivered by an “abnormal” increase in construction costs, warning that development could screech to a halt.
According to WiRE FS findings, prices and transaction volume of properties at city centres in Nicosia and Limassol remain stable, as locals, taking advantage of government subsidies, continue to acquire residential real estate.
For those interested in buying real estate through electronic auctions, we keep noting various scams which surface, with the result being the unsuspecting public or buyers being the victims.
The number of property sales continued to rise in September 2021 compared with the same month last year, according to figures released by the Department of Lands and Surveys earlier today.
An official agreement was reached between Limassol Municipality and the Land Development Corporation (KOAG) in June 2020, regarding the largest housing project ever to be undertaken in Cyprus to accommodate six hundred low-income families, students and young couples. Due to the Coronavirus pandemic, the project was stalled last year and the first phase is estimated to be commissioned in 2023.