Cyprus Real Estate News

The RICS Cyprus Property Price Index with KPMG in Cyprus, which records the property price and rental index by tracking property and rental prices across all Cyprus districts and main property types, has been issued for the fourth quarter of 2024. On behalf of KPMG in Cyprus, Christophoros Anayiotos, Board Member and Head of the […]

The revised texts of two bills aimed at increasing the supply of affordable housing through incentives for property owners participating in the “Renovate and Rent” scheme were presented yesterday before the Parliamentary Finance Committee. Speaking before the committee, Rena Makri, Senior Audit Officer at the Ministry of Finance, stated that following consultations with relevant stakeholders […]

What Incompetence! Corruption and probably cover-ups, backhanders and a bureaucratic nightmare with everyone passing the decision-making process down the line. The facts are simple: Do we live in a land governed by Rule of Law or not? If not, then obviously: Where there is no Justice there exists no Crime and all illegalities are justified […]

Far fewer applications have been received than anticipated for the small-scale building violations amnesty, Interior Minister Constantinos Ioannou said on Friday. The measure announced in September had been intended to run for a period of six months and resolve a number of problems. Owners would receive withheld Title Deeds through a simplified process, the authorities’ […]

The Real Estate Agents Registration Council has proposed ending daily accommodation rentals to protect consumers and the property market, maintain tourism standards, and uphold the country’s international image. On Tuesday, the Council participated in a House Committee meeting on Energy, Trade, Industry, and Tourism. It presented its views and concerns regarding short-term property rentals. The […]

The cost of housing in Cyprus has become a major financial burden, with rent or mortgage payments often exceeding 40% of household income. In response, the European Union has established a specialised task force to examine the issue and propose solutions to the housing crisis across Europe, including in Cyprus. A growing housing affordability crisis […]

The number of registered short-term rentals in Cyprus has increased significantly. It grew from 4,765 in April 2025 to 8,248 properties, Deputy Minister of Tourism Kostas Koumis announced on Tuesday. Speaking after a Parliamentary Committee on Tourism meeting, he discussed the progress of legislation regulating short-term rental accommodations. The discussion focused on the implementation of […]

The Court of Appeal ruled that the Department of Lands and Surveys (Land Registry) has no legal duty to notify property buyers of pre-existing sale agreements, the Law Office said. The ruling followed a lawsuit by a buyer who claimed the Land Registry failed to disclose that the apartment he was purchasing had already been […]

The Nicosia District Court has issued a landmark ruling that may have far-reaching consequences for tens of thousands of mortgages, after blocking a foreclosure due to potentially unlawful additional charges within the mortgage contract. In an unprecedented decision, the court granted an interim injunction halting the foreclosure of two flats and a shop. This marks […]

The president of the Cyprus Electrical Contractors Association has raised urgent concerns over serious safety risks caused by substandard electrical equipment. His warning follows a devastating house fire in Limassol that tragically claimed the lives of an entire family of five: a 35-year-old father, a 32-year-old mother, and their children, aged seven, three, and two. […]

The number of building permits approved in Cyprus saw a significant decline in September 2024, according to data released by the Statistical Service. The drop of 30.9% is attributed to operational challenges following the introduction of the new integrated information system, “Ippodamos” and changes in the permit approval process. In September 2024, a total of […]

Police are investigating a case involving 80 individuals suspected of running a military-style organisation engaged in property fraud. The Criminal Investigation Department (CID) launched the investigation after a law firm reported irregularities concerning a foreclosed property, leading to the discovery of what police describe as an organised criminal group. Two suspects have been arrested, while […]

An apartment block in Limassol’s western suburb of Polemidia sold for €39.3 mln last year, making it the most expensive property deal of 2024, according to a recent market study by Ask Wire. The island’s leading real estate analytics platform compiled data on the highest-value transactions of the past year and found that the ten […]

Plans to demolish the historic KEAN factory in Limassol, making way for major residential, commercial, and office developments, have been confirmed by the company bbf. Located on Limassol’s coastal avenue, the KEAN factory has been a landmark since its establishment on 1st July 1956, serving as the primary production facility for the soft drinks company. […]

The government has introduced a fast-track process for issuing building licences for certain residential units, aiming to cut bureaucracy and promote home ownership, which it announced in January. Interior Minister Constantinos Ioannou detailed the new system, which significantly reduces the time for obtaining a final building permit to 40 working days – 20 days for […]

The Cyprus property market has got off to a flying start in 2025, as property sales contracts deposited at Land Registry offices surged by 21% in January compared to the same period in 2024, according to official figures from the Department of Lands & Surveys. All districts have experienced growth, with Famagusta leading the way […]

The latest Ask Wire Index for Q4 2024 highlights a mixed performance in the Cyprus property market as apartment sale and rental values continued to grow, supported by sustained demand and a strong tourism sector. However, other property categories, including warehouses, retail spaces, and offices, experienced declines, reflecting shifting market dynamics. While new housing supply […]

The Cyprus Architects’ Association (SAK) has called for tighter regulations and immediate amendments to legislation governing the establishment and operation of tourist facilities across the island. This appeal follows concerns expressed by MPs over unchecked investments by foreign individuals and corporations, particularly in the Paphos district, as well as in Famagusta, Limassol, and Larnaca. Lawmakers […]

Foreign buyers have played a dominant role in the Cyprus property market since 2015, with the coastal city of Paphos emerging as the most sought-after location. According to government data released on Wednesday, 83% of property sales in Paphos were made to non-Cypriots. Figures provided by the Interior Ministry to Parliament reveal that in 2015, […]

Although EU citizens are permitted to buy as much and as many properties as they wish in Cyprus, third country nationals, i.e. citizens of non-EU countries, are limited in what they may purchase (see buying property in Cyprus and visiting post Brexit.) The restrictions on foreigners buying property in Cyprus date back to the Acquisition […]