The government of the Republic of Cyprus has increased the monthly rent paid by those who use Turkish Cypriot properties. The cost of rent has increased from 50-100 euros to 1200-2700 euros. The decision to increase the rent was made by the country's Ministry of Interior. According to the publication Fileleftheros, this was done to relieve taxpayers from the annual burden of strengthening the Turkish...
Beşiktaş, a vibrant and affluent district on the shores of the Bosphorus in Istanbul, Turkey, offers a unique blend of history, luxury, and modernity. Prestigious Neighborhoods: Beşiktaş is home to some of Istanbul's most prestigious neighborhoods, including: Bebek: A charming residential area with lush greenery and stunning waterfront views. Etiler: A high-rise district known for its...
A team of Israeli geologists has made a significant discovery while exploring the seabed off the coast of Cyprus. They have found a previously unknown underwater canyon, named the Eratosthenes Canyon, located at a depth of 500 meters and measuring 10 kilometers in width. Formation and Significance: The researchers believe that the canyon was formed during the Messinian period, approximately 5.5 million...
Cyprus has the fourth highest number of cars per capita in the European Union, with 658 cars per 1,000 inhabitants, significantly exceeding the EU average of 560. Key findings: Italy has the highest car ownership rate in the EU (684 cars per 1,000 inhabitants), followed by Luxembourg (678), Finland (661), and Cyprus (658). Latvia has the lowest car ownership rate (414 cars per 1,000...
Despite high pollution levels, the adoption of electric vehicles (EVs) in Cyprus remains slow, with only 1123 registered since 2019. Key barriers to EV adoption: High cost: The average price of an EV in Cyprus is €37,000, significantly higher than traditional cars. Charging infrastructure: The limited availability of charging stations, especially in private homes, presents a challenge for...
Cyprus, a car-centric nation: With over 90% of the population relying on cars, Cyprus stands as one of the most motorized countries in Europe. This article delves into the popular models, sought-after brands, and emerging trends in the Cypriot automotive landscape. Market Overview: Recovering from the pandemic: The new car market is bouncing back after a challenging 2020, with sales witnessing...
The Cyprus real estate market defied expectations in the final quarter of 2023, exhibiting resilience and growth amidst global economic headwinds. Despite inflationary pressures, rising interest rates, and a higher cost of living, key indicators point towards a thriving market primed for continued success. Market Highlights: Significant transactions: 3,534 properties changed hands in Q4 2023,...
A gastronomic journey through Cyprus: from authentic taverns to haute cuisine. For the second year in a row, Wiz Guide, with the support of Bank of Cyprus, has conducted a review of the restaurant scene in Cyprus. 12 judges visited 1834 establishments incognito, evaluating not only the taste of the food but also the atmosphere, service, and value for money. Results of 2023: 7 out of 10 of the...
Are you ready to unlock the world of Greek real estate investment? 4 Strategies: 1️⃣ Investment Resort Property: 13%+ per year: Renting to tourists provides a steady income. Be prepared: Management requires effort. Seasonality affects demand. 2️⃣ Real Estate in Major Cities: 6% per year: Long-term rentals provide a stable income. Capture the...
The short-term rental market in Cyprus is rapidly growing, attracting the attention of both travelers and investors. Yannis Kotzias, General Manager of Phaedrus Living: "This is a natural progression, considering the global momentum of short-term rentals, and Cyprus, being a tourist destination, is no exception." Why is short-term rental profitable? Increased financial gain: Average...