Reports written by Nigel Howarth
Our top 10 most read stories from Cyprus in 2017
We’ll go over the top ten most read stories published by Cyprus Property News over the past 12 months, which include stories about trapped buyers, Swiss Franc loans and property taxes.
New home building permits up 25 per cent
The number of new homes in Cyprus for which building permits have been issued rose by 25.3 per cent in September 2017 compared to September 2016 according to the Cyprus Statistical Service.
November property sales up 39%
Property sales in Cyprus rose 39 per cent in November compared with November 2016 with sales increasing in all districts according to official figures from the Department of Lands and Surveys.
Specific Performance Law – depositing contracts
Cyprus’ replacement Specific Performance law, which came into force in 2011, provided that contracts of sale that were signed but not been lodged at the Land Registry to be lodged within six months of the law coming into force.
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.
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.
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).
Cyprus residence permits statistics
Cyprus issued 16,970 residence permits to non-EU citizens in 2016 according to statistics published yesterday by the Eurostat, the statistical office of the European Union, in a press release.
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.
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.
