1. Istanbul's Housing Market Dominated by Old Housing Stock: The rising dollar exchange rate and construction costs hinder new housing supply, shifting demand towards the secondary market. 7 out of 10 apartments sold in Istanbul are second-hand. 2. Housing Prices Remain High: The average price of a residential property in December 2023 exceeded 3 million Turkish Liras. An individual...
Cyprus Property Market Analysis Firm Releases February Report A report outlining the ten largest property transactions completed in February 2024 has been released by Cypriot real estate market analytics firm Ask Wire. The data provides valuable insights into the state of the local property market. Key Findings of the Report The total value of the top 50 property transactions in February...
According to Eurostat, 989,000 people acquired citizenship in the EU in 2022, a 20% increase from 2021. Moroccans received the most EU citizenships, followed by Syrians and Albanians. Italy, Spain, and Germany issued the most passports to foreigners. Portugal saw a decrease in citizenship applications in 2022. New citizenship law in Portugal simplifies the process for Golden Visa...
The Ministry of Interior has recently published a comprehensive list of criteria for naturalization in Cyprus. General Requirements for Naturalization As per Article 111B(1) of the relevant law, applicants must meet the following criteria: Residency: Lawful and continuous residency in government-controlled areas of Cyprus for 12 months before the application date. Brief absences not exceeding...
Owning property in Northern Cyprus can be a great investment, but it's important to understand the different types of title deeds available and their implications. Here's a breakdown of the top 3 most secure title deeds: 1. Turkish Title: Description: Issued for properties owned by Turkish Cypriots or foreigners before 1974. Security: Considered the most secure title, recognized worldwide, and...
Important Update for Investors: The Greek government is introducing changes to the Golden Visa program, specifically for options not related to real estate investments. These changes will take effect on March 31, 2024. Key Changes: Increased Minimum Investment Threshold: The minimum investment amount for the following options will increase from €400,000 to €500,000: Purchase of shares...
Flourishing Residential Sales: Nationwide residential property sales in February 2024 witnessed a 17.3% year-on-year increase, reaching 93,902 units. Istanbul maintained its dominance as the city with the highest number of property sales, accounting for 16,344 units or 17.4% of the total. Ankara followed with an 8.8% share, and Izmir with a 5.5% share. Stabilizing Prices: In line with our 2023...
Bali: An Alluring Paradise Bali, an Indonesian island nestled in the Indian Ocean, enchants travelers with its breathtaking beaches, verdant landscapes, and rich cultural tapestry. Often referred to as the "Island of the Gods" due to its numerous Hindu temples and spiritual significance, it beckons those seeking relaxation, adventure, and self-discovery. Diverse Regions The island is segmented into...
In today's globalized world, buying an apartment abroad is a more feasible and attractive option than ever before. It offers a wealth of opportunities to enhance your lifestyle, financial security, and personal enjoyment. Whether you're seeking a vacation home, a retirement destination, or an investment property, purchasing an apartment overseas can be a wise decision. Benefits of Owning an Apartment...
The small island of Petra tou Limniti is located off the coast of Tillyria, in the northern sea of Cyprus. The island is only 4,500 square meters in size, but it has a significant place in Cypriot history and archaeology. In 1927, a Swedish archaeological expedition led by Einar Gjerstad discovered a Neolithic settlement on Petra tou Limniti that dates back to around 5800 BCE. This makes it one of the...