According to the Department of Land Resources of the Republic of Cyprus, the real estate market continues to grow steadily. So in February sales growth reached 46%, and in quantitative terms — 666 sales contracts against 456 in February 2017.
In general, in January / February this year, real estate sales increased by 55% (1361 contracts against 879 contracts in the same period of 2017). The best sales figures in Famagusta are 150%, followed by Paphos 79%. Nicosia, Limassol and slightly less Larnaca were also noted for growth. It is important to mention that 2017 has become the record number of deals on real estate sales since 2008.
New law to reduce the VAT rate by 5% on the purchase/construction of the main housing. New criteria: The above restrictions have been adjusted for persons with disabilities and for families with many children. The new law does not apply to real estate for which:
At the moment, the real estate market in Cyprus is very active, with a good response from buyers: houses and apartments with an optimal price-quality ratio diverge quite quickly. Timely investment in Cyprus real estate opens up the possibility of business diversification and guarantees a stable income. Taking into account the time factor, popular wisdom […]
Grounds for obtaining a Pink Slip in Cyprus for foreign citizens. To obtain a Pink Slip residence permit in Cyprus, at least one of the following conditions must be met: In order to obtain a Pink Slip residence permit with the possibility of its subsequent extension, it will be necessary to submit the relevant documents […]
If this is your first transaction in Cyprus, it is better not to take risks and act through a realtor or organization. You can contact our experts for advice and direct assistance. Remember that the independent execution of all papers is a long, complicated and often incomprehensible process. Documents in a foreign language are perceived […]
Buying a property is still the most profitable investment in Cyprus. This is because local residents have no other alternatives where they could invest money. By the way, interest rates on deposits remain at a very low level: 1.29% for individuals and 1.27% for legal entities. In turn, the Cyprus Stock Exchange also offers a […]