HomeLatest News & UpdatesHigh rise apartments in Cyprus?

High rise apartments in Cyprus?

PAPHOS, the popular tourist town on the west coast of Cyprus, could soon see dramatic changes in its skyline if proposals for high rise buildings in the town are given the go ahead by government.

The mayor of the Paphos, Savvas Vergas, is reported to be examining ways of saving space as the town grows – and he has been meeting with architects to discuss plans for high rise apartment blocks and offices. Building land in Paphos is in short supply and, according to one local councillor, high rise buildings would help to reduce parking problems in the town which are growing year by year.

In June last year we reported that the Cyprus Government was looking into ways of encouraging better land use. It was believed that one of the incentives being considered was offering land owners increased building ratios to allow higher density housing to be built on the land.

Property developers have suggested that increasing the building densities in the town centres would also help the beleaguered construction industry.

RELATED ARTICLES

Due Diligence

Due diligence is absolutely essential before committing to buy a property.

Top Stories

Property Transfer Fees

Property transfer fees are paid to secure the Title Deed & legal ownership of a property.

EUR - Euro Member Countries
GBP
1.1840
RUB
0.0106
CNY
0.1333
CHF
1.0721

Capital Gains Tax

CGT applies to property sales and share disposals in companies holding property.

Elsewhere in Cyprus Property News