cyprus real estate shows grit Archives

Borrowers Association Engaging with Political Parties Over Trapped Buyers

The Cyprus Borrowers Association (Syprodat) is actively engaging with political parties to propose a legislative remedy for trapped property buyers who have paid for properties but haven’t received title deeds, aiming to protect them from foreclosures and safeguard their legal rights. Syprodat’s proactive stance underscores the urgency of the situation, emphasizing the need for immediate action to address the plight of these buyers and ensure their rights are protected.

Property Gallery at the Forefront of Innovation in REALTYon Expo 2024

By Demis Papadopoulos

Property Gallery took center stage at REALTYon Expo 2024 with their showcase of YOO Limassol by Starck, setting the industry abuzz with their innovative design and forwardthinking approach. Their participation highlighted their leadership in the Cypriot real estate market, solidifying their reputation as visionaries in modern living.

Cyprus Business Now

By Demis Papadopoulos

The Cyprus real estate market has shown resilience in 2024, with property transfers increasing by 8% and transaction values going up by 1% from the previous year, despite facing numerous challenges. The Cyprus Consumers Association has noted a rise in consumer complaints, particularly in the travel sector, emphasizing the need for enhanced consumer protection and support.

Cyprus Property Market Shows Robustness Amidst Adversity

By Demis Papadopoulos

The Cyprus property market has shown remarkable resilience in the first half of 2024, with property transfers increasing by 8% to reach 9,374 and the transaction value rising to €2.07 billion. Despite a slight decline in sales documents, the second quarter saw a notable 6.3% increase in transfers and a 14.6% rise in transaction value, indicating strong market momentum and robustness in the face of adversity.

Cyprus Business Now: Weekly Wrap-Up

By Demis Papadopoulos

Cyprus shines as a ‘Strong Innovator’ in Europe, showcasing a vibrant ecosystem at events like ‘Bash 2024’ to boost collaboration among startups and investors, propelling the region’s innovative spirit. On the real estate front, debates over shortterm rentals and investments like the Latchi harbour expansion in Polis Chrysochous shape the dynamic landscape, while financial sectors see shifts in the House Price Index and a focus on corporate responsibility with Island Oil Holdings leading the charge.

Cyprus Real Estate Market Faces a Slowdown

By Demis Papadopoulos

The Cyprus real estate market is currently facing a slowdown, with house and apartment prices decelerating and sales declining due to rising lending rates and high construction costs. Regional disparities exist, with Paphos and Famagusta seeing price increases while other areas progress more slowly, leading to a market recalibration.

Short-term Rentals in Cyprus: Economic Boon or Scapegoat?

By Demis Papadopoulos

Shortterm rentals in Cyprus, like Airbnb, have sparked a debate over their economic impact. While critics fear they inflate rental prices, advocates such as Yiannis Kotzias highlight their role in job creation, state revenue, and tourism, calling for balanced regulation to support their potential.

Cyprus Business Now: Digital Euro Advancements and Booming Real Estate

By Demis Papadopoulos

Cyprus is making strides in its economy with the introduction of the digital euro by the Central Bank, while the real estate market is booming with a notable 31% increase in housing transactions. The energy sector and educational initiatives are also at the forefront of the nation’s development, showing promising growth and commitment to progress.

Cyprus Leads EU in Housing Market Growth with Remarkable 31% Surge in 2023

By Demis Papadopoulos

Cyprus defies the European housing market trend with a remarkable 31% surge in transactions in 2023, outperforming other EU countries. This exceptional growth showcases Cyprus’s economic vitality and investor confidence in its real estate sector, setting it apart as a frontrunner in the EU housing market.

Cyprus Business Now

By Demis Papadopoulos

Shortterm rentals like those on Airbnb are driving up housing costs in Cyprus, making longterm rentals unaffordable for many. The Cyprus Real Estate Agents Registration Council has called for a ban on these rentals to address the issue, as soaring prices are straining renters’ finances.