For ten years Cyprus was aligning itself with European law to impose 19% VAT on land transactions for commercial activities, and the final law was passed on November 3, 2017 and followed the Dutch model in an effort to limit the cases of the VAT. All the parties concerned are to study the final text of the bill as well as the relevant government regulations within a month. The main worry is how the market and the property values will be affected. There is also a call on the government to p... Read more
Cyprus continues to set records in the tourism sector. August was another month when Cyprus was visited by the maximum number of tourists in the history - 523 651 people. In July and August this year, the island, for the first time, had more than half a million tourists per month. For comparison, last August there were 458,645 visitors that is 14.2% less. Overall, for the first eight months of 2017, the flow of tourists increased by 14.7%, reaching 2.51 million people. This is al... Read more
This year BUY HOME ESTATE AGENCY participated in the European Property Awards, where it competed against the best property professionals across Europe and was recognised as the Awards Winner in two categories BEST REAL ESTATE AGENCY and BEST RESIDENTIAL DEVELOPMENT (Faros Sea Residence) in Cyprus. The European Property Awards are a part of the International Property Awards, which are known to be the world’s most reputa... Read more
A great residential complex of luxury modern villas near the beach. Located only 200 meters from the beach, 5 minutes to city center. The position provides privacy and accessibility to town and country with independent modern-designed villas comprising three bedrooms, laundry, gardens and private optional pool. These Residences come with the option of five designs, internal layouts and external finish. Set amidst easy-care gardens with paved flooring bordering the optional pool, cov... Read more
The latest quarterly index from the Royal Institute of Chartered Surveyors (RICS)
Property prices in Cyprus increased in the first quarter of 2017 with the market showing significant growth over the 12 months to the end of March. Apartment prices increased by 1.3% and house prices were up 2.3% compared to the previous quarter. The report explains that with the economy showing further signs of stability and confidence in the banking system improving, access to mortgag... Read more
According to the recent data published by WHO, out of the 184 countries analysed, Cyprus is the safest country for young people to live, with a death rate of almost one in every 4,762 youths. A young person was defined as aged between 15 and 29.
On the other side of the scale, Sierra Leone proved to be the most dangerous with one youth in every 150, estimated to have died in 2015.
The figures show a widening gap of youth mortality between the developed and developing world as nine of the 10... Read more
Some will pay more and some will pay less local property taxes in Cyprus this year as charges will be assessed on 2013 property valuations rather than those of 1980 in efforts to provide a fairer taxation system. LOCAL property tax in Cyprus is set to change this year as the Municipalities and Communities will be assessing the tax payable on the 2013 property valuations rather than the 1980 valuations. It is anticipated that most people will pay about the same local property tax as they... Read more
MAY saw the number of Cyprus property sales to the overseas market more than treble compared to May 2016 according to official figures published earlier today by the Department of Lands and Surveys. Of the 756 contracts for the sale of immovable property that were deposited at Land Registry offices across Cyprus in May, 496 (65.6%) were deposited by Cypriot purchasers and 260 (34.4%) were deposited by overseas purchasers. Overseas Cyprus property sales rocket Property sales to the overseas (n... Read more