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Larnaca marina and port progressing

The process of preselecting the successful bidder for the construction of the new Larnaca marina and port should be completed by the end of this week according to the Minister for Communications and Works.
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Imposing VAT on land sales

Cyprus is facing hefty fines from the European Commission if it does not impose VAT on land sales, but the imposition of VAT will have knock-on effects on the property market and the banks.
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More new homes under construction

The number of new homes in Cyprus for which building permits have been issued rose by 22.8 per cent in February 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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Slight fall in property sales (Update)

The number of property sales in Cyprus fell slightly in April compared to the numbers sold in April 2016 with increases in Nicosia, Limassol and Paphos wiped out by falls in Larnaca and Paphos.
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Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.
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Zero rent increase – wrong decision

How will foreign investors invited to put money into the Cyprus property sector interpret the decision by the Government's Council of Ministers that there will be no rent increases until 2019?
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Commercial court in 2018

In efforts to modernise the Cyprus justice system, a new Commercial court will be set up in early 2018 to deal with claims arising from contracts, company disputes, the purchase or sale of goods, etc.
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Limassol looks to Marseille for inspiration

Limassol is seeking to take a leaf out of Marseille's book in an effort to inject new life into the Aktaia Street area of the city and looks set to adopt the Marseille Euroméditerranée project.
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Cyprus attracting more overseas interest

Overseas interest in the Cyprus property market strengthened in March to become the sixth most sought after destination in the Top of the Props index published by TheMoveChannel.com.
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Paphos marina project delayed again

Just when we thought the construction of the Poseidon consortium's Paphos marina was about to get underway, the consortium has failed to supply adequate evidence of its ability to finance the project.
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Europe’s Golden Visa schemes

The 'Golden Visa' schemes offered by many European countries, including Cyprus, have their risks and rewards, but could processing delays and other inconveniences stymie interest from Asian buyers?
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Manhattan skyline for Limassol?

Numerous high-rise buildings, comprising commercial and residential properties, are set to dominate the skyline of Limassol; several are already under construction others are in the pipeline.
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Chinese investors boost construction sector

Purchases by Chinese investors in Cyprus property have contributed to the recovery of the island's construction sector according to the president of Cyprus Association of Valuers and Property Consultants.
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Sharp rise in new homes construction

The number of new homes in Cyprus for which building permits have been issued rose by 56.8 per cent in January 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.
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Cyprus house prices up

House prices in Cyprus rose by 2.8 per cent in the fourth quarter of 2016 compared with the fourth quarter in 2015 according to the House Price Index published earlier today by Eurostat.
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Property sales improve in March

Following February's fall in property sales, the numbers sold in Cyprus during March compared to March 2016 improved in three of the five districts according to official statistics from the Department of Lands and Surveys.
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One sixth of properties not registered

Around one sixth of the 1.2 million properties in Cyprus were not registered with the Department of Lands and Surveys until the authorities carried out a revaluation exercise as part of the island's bailout agreement.
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Cyprus needs to accelerate debt reduction

The International Monetary Fund (IMF) has called on Cyprus to speed up reductions in public and private debt to rebuild confidence and deliver balanced, sustainable growth, and support balance sheet repair.
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Cyprus: NPLs remain “very high”

Following the second post-programme surveillance mission to Cyprus, the European Commission and the European Central Bank reports that NPLs remain "very high" and that "reform momentum has weakened noticeably."
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Non-performing loans at 47 per cent

Non-performing loans in the Cypriot banking system stood at 47% of total loans at the end of December 2016; a fall of €3.7 billion in two years to €23.7 billion according to data released by the Central Bank of Cyprus.
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