President Nicos Christodoulides and a delegation from the Abu Dhabi National Energy Company (TAQA) discussed a list of infrastructure initiatives and development projects in Cyprus in which the Emirati company could invest. The visit by TAQA representatives was a follow-up to the visit to Cyprus by the UAE's Deputy Minister of Foreign Affairs for Trade and Financial Affairs in the summer of 2023. The...
Sotheby's International Realty, the world's largest luxury real estate network, has published its Luxury Outlook 2024 report. What global trends have affected the Cypriot market and what needs to be considered in the near future? The report is based on a survey of 550 Sotheby's International Realty agents worldwide. This information was supplemented by data from other leading industry experts, including...
Cyprus aims for a complete switch to electric vehicles by 2035 — a target that says as much about the island's long-term infrastructure planning as it does about transport policy, and one worth understanding if you're weighing a property purchase there. The Republic of Cyprus has set a goal of completely switching consumers to electric cars by 2035. This statement was made by government spokesman...
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...
Besiktas where palaces meet skyscrapers is the simplest way to describe this Istanbul district: few Istanbul districts capture the citys layered identity as vividly as Besiktas. Walk from the Bosphorus shoreline inland and you pass from Ottoman imperial palaces to a dense, modern urban core packed with universities, corporate headquarters, and some of the citys most consistently in-demand residential real...
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...
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,...
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 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...
