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...
The Ministry of Culture and Tourism has announced plans to open 6 new public beaches in 2024. 2 new public beaches will be opened in Antalya, and 1 public beach each in Bodrum, Muğla, Izmir, and Giresun. The new beaches in Antalya are planned to be opened in the Lara and Konyaaltı districts. They will be equipped with everything necessary for a quality vacation: sunbeds, umbrellas, showers, toilets,...
Key changes: * Increased minimum investment: The Greek government plans to raise the minimum investment required for a Golden Visa, aiming to curb program popularity and stabilize housing prices. * Targeted increase: Specific areas, like Piraeus, Rhodes, and Crete, may see bigger jumps from the current €250,000 threshold. * Exception for listed properties: Lower thresholds might apply to incentivize...
The Venetian lion: a symbol of the city, adorning it since the 13th century. ⠀ Where can you find it? ⠀ * On fortress walls * On building facades * On columns and bridges ⠀ What does it mean? ⠀ * Strength and power * Wisdom and knowledge * Justice and protection ⠀ Paw above a book: ⠀ * Open book: a symbol of evangelization * Closed book: a symbol of authority and...