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Reduced VAT on property purchase

Those buying a property in Cyprus as their main residence may apply for a reduced rate of VAT of 5% on the purchase price/construction cost of a new dwelling providing they meet certain criteria.
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Rise in property sales led by overseas buyers

The rise in Cyprus property sales in October was led by overseas buyers who bought 65 per cent more properties than in the same month last year according to official statistics from the Department of Lands & Surveys.
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Chinese ban no impact on property sales

The restrictions introduced by the Chinese government to reduce outbound investment in real estate have yet to impact property sales according to the Cyprus Chambers of Commerce and Industry (Keve).
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Limassol rents spike as market booms

A property market boom in Limassol has driven up rents as demand for housing has outstripped supply as more companies have moved to the area seeking accommodation for their staff.
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Cyprus property prices on the rise

Cyprus property prices are continuing to rise, according to the thirty-first publication of the RICS Cyprus Property Price Index with apartment and house prices maintaining a steady growth.
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Home prices up says Cyprus Central Bank

Home prices in Cyprus (houses and apartments) recorded a quarter-on-quarter increase of 0.5 per cent in the second quarter of 2017 according to the Cyprus Central Bank's latest Residential Property Price Indices.
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Construction of new homes slows

Following ten months of double digit increases in the number of building permits authorised for the construction of new homes, August saw an increase of 6.6 per cent compared to August 2016.
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Parliament approves VAT on building land

The new bill imposing VAT on building land has been approved by parliament and will come into force on 2nd January 2018 some ten years after the deadline set by the European Union.
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Cyprus property sales up 21% in October

Property sales in Cyprus rose 18 per cent in October compared with October 2016 with sales increasing in all districts (with the exception of Larnaca) according to official figures from the Department of Lands and Surveys.
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Non-performing loans stand at €21.9bn

Non-performing loans (NPLs) in the Cypriot banking system currently stand at €21.9 billion, or 44 per cent of total loans and 120 per cent of economic output according to the governor of the Central Bank.
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Construction helps Cyprus exit recession

Laying the cornerstone of '360', the tallest construction in Nicosia, President Anastasiades said that the construction boom confirms the government's focus on exiting the vicious cycle of economic recession.
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Peyia goes to court over Vassiliou project

The Peyia council is taking the Nicosia town planning department to court over its decision to issue a planning permit for a mammoth development on a hillside (Ayia Vouni) overlooking Peyia.
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More efforts needed to reduce NPLs

Cyprus needs to put more efforts into reducing the non-performing loans (NPLs) of the Cyprus banks, which "remain at extremely high levels" said the Chair of the ECB's Supervisory Board.
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Surge in new homes construction

July saw another surge in the building of new homes with a 40.6 per cent increase in the number of building permits issued for their construction compared to the same period in 2016.
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Cyprus house price index up 3.1 per cent

The Cyprus house price index (HPI) rose by 3.1 per cent in the second quarter of the year and 3.6 per cent on an annual basis according to a preliminary estimate by the Statistical Service.
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Paphos marina decision expected soon

The Pafilia Group should hear by the end of the month whether it has met the required criteria to build the Paphos marina, which has been stalled by bureaucracy and legal battles for more than a decade.
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VAT on land sales agreement

Cyprus is to impose VAT at a rate of 19 per cent on land sales for commercial activities, which will be based on the Dutch model according to a report in the Greek language media.
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September property sales up 8 per cent

The number of property sales in Cyprus during September 2017 rose by 8 per cent compared with the same month last year according to official figures from the Department of Lands and Surveys.
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Cyprus faces “sizeable downside risks”

Following its mission to Cyprus the International Monetary Fund said that "sizeable downside risks" still exist, citing an extremely high private sector debt and a high proportion of non-performing loans (NPLs).
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Cyprus court upholds trapped buyers law

The Limassol District Court has upheld the 'trapped buyers' law overturning previous district court rulings in favour of banks that blocked Title Deeds being issued to some 70,000 trapped buyers.
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