Imperio, the leading real estate developer in Cyprus, stands out by being the first in the industry to issue an ESG report. Their commitment to sustainability is evident in their focus on green projects, social responsibility, and innovative sustainable solutions, setting a new standard for the sector.
cyprus real estate shows grit
In January 2024, Cyprus saw its top ten property sales reach a total of €14.3 million, with Limassol leading the pack boasting the highest sale of €2.97 million in Potamos Germasogeias. The vibrant real estate market showcased a diverse range of highticket transactions across regions, indicating a robust start to the year in the Cypriot property landscape.
A 52yearold woman in Limassol was arrested for defrauding individuals of over 430,000 euros by posing as a real estate agent and deceiving them into investing in land sales and paying for nonexistent apartment rentals. The investigation is ongoing to uncover the full extent of the fraud and authorities are urging the public to remain vigilant and report any suspicious activities.
In November 2023, Cyprus’s real estate market experienced a thriving highend market with €22 million in highvalue transactions. Limassol led the way with €9.56 million in sales, followed by Nicosia with €4.23 million, highlighting the ongoing demand for luxury properties in Cyprus’s dynamic regions.
Cyprus Airways has launched direct flights connecting Larnaca and Brussels International Airport, increasing European connectivity and opening up opportunities for both business and leisure travelers. The mortgagetorent scheme initiated by Kedipes has seen substantial interest, offering innovative solutions to struggling homeowners and providing stability to the housing market.
Cyprus’ energy sector has reached a milestone with an agreement between the government and Chevron for the development of the ‘Aphrodite’ gas field, indicating a significant advancement in the country’s energy initiatives. Additionally, the tourism sector is expected to see a boost from Polish tourists, with Deputy Minister of Tourism Kostas Koumis forecasting over 300,000 arrivals in 2024.