CYPRUS PROPERTY SALES AT A 15 YEAR RECORD HIGH
Residential property sales in Cyprus hit a 15-year record high in the second quarter of 2023, with a significant increase in prices, according to data released this week by the Central Bank of Cyprus.
END OF AN ERA FOR PLANNING PERMITS FOR SMALL DEVELOPMENTS
The application for a planning permit for low-risk developments, that is, those that include houses and apartment buildings of 8-10 apartments, is abolished.
CHANGES TO VAT REQUIREMENTS FOR NEW RESIDENCES IN CYPRUS
The following are key amendments and conditions regarding the reduced VAT rate for new residences in Cyprus, under Law 42(I)/2023, which will be in effect from November 1, 2023.
PROPERTY MARKET TOO TIGHT TO MENTION
Cyprus is facing a housing crisis, as young couples are locked out of the property market by skyrocketing prices, while supply is quickly diminishing due to thousands moving to the island.
TENANCY LAW – NEW DECREE: Up to 6% increase in rents until 2025
After 10 years of zero growth, property owners are calling for the repeal of the Tenancy Law
Conflicting Market Forces Affect Sales
Conflicting Market Forces Affect Sales
March saw the second highest number of property sales in the month since records began in 2000. But these figures face conflicting market forces.
