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
Cyprus has become an even more attractive business base for non-European entrepreneurs and investors, who are now eligible for Cypriot citizenship in light of the recently revised Cypriot Citizenship Scheme. The revised scheme will further boost the island’s economy, with foreign investments set to continue to rise. Notably, the scheme offers a fast track procedure, with the same rights given to the investor as any European Citizen.
Based on the performance of the property market in Cyprus in 2015 and the beginning of 2016, Buy Home predicts that the sector’s transaction volume will not see a dramatic increase over the course of the year. According to statistics and trends, the price of prime assets will reach an all-time low and secondary asset requests, while the market will see an almost complete lack of demand for secondary assets. OVERVIEW According to a report put togethe... Read more
According to research collated by the Global Property Guide, the average price per square meter for an apartment in Cyprus’ biggest financial or administrative cities in August 2014 was €1,790. This number was based on findings from properties in excellent condition which were refurbished or redecorated within the last five years. Newly-built and pre-sale property prices are not included. The average price per square meter and indeed the Housing Index in Cyprus in general continued to d... Read more
Buying a property in Cyprus includes a number of additional property purchase costs and services including realtors’ and lawyers’ fees and stamp duty. The question is, how high are these costs and how easy is it the property purchase process in the island? Foreigners looking to invest in property in Cyprus are only able to purchase one home, and although the... Read more