Real Estate in the Republic of Cyprus In 2023, 541 apartment buildings began construction in the Republic of Cyprus. They will soon be completed, adding several thousand new apartments to the housing market. A lack of decent housing is one of the problems Cyprus has faced in recent years. The shortage of supply has led to rising rents and property prices. High prices for building materials, inflation,...
RICS Cyprus, the Royal Institution of Chartered Surveyors, and audit firm KPMG have published the Cyprus Property Price Index for Q4 2023. The index shows that apartment prices in Cyprus are rising faster than any other type of property, while their rental yields are comparable to those of commercial properties. Key findings of the report: Apartments prices increased by 9.53% over the year, the...
On February 29, the Parliament of the Republic of Cyprus approved a bill to create a Ministry of Migration. This decision was called "historical for the country" by the head of the Ministry of Internal Affairs, Konstantinos Ioannou, who is currently in charge of the Migration Department and the Refugee Service. Currently, a significant part of the issues that will be transferred to the jurisdiction of...
The TRNC Post Office has released an updated list of items and products that are prohibited from being sent in parcels arriving in Northern Cyprus. The list includes medications, precious metals, and certain financial documents. "Based on our previous experience, it is very important that our citizens are aware of the list of items that cannot be transported. This is important for both the health of the...
Are you looking for a beautiful, tranquil, and affordable place to live or invest? Choose North Cyprus! With its stunning beaches, crystal-clear waters, and mild climate, North Cyprus is a hidden gem waiting to be discovered. The North Cyprus Residency Program offers three straightforward paths to residency: 1. Property Investment: No minimum investment threshold: Unlike other residency...
The Deputy Ministry of Tourism of Cyprus reports a growing market for short-term rentals. This market is regulated, and listing on online platforms requires obtaining a license. Penalties are provided for violators. According to Marios Tsanakas, a representative of the Deputy Ministry of Tourism, there are currently over 6,700 self-catering accommodations in Cyprus capable of accommodating over 30,000...
On February 21, the Cabinet of Ministers of the Republic of Cyprus approved seven measures to support the population and businesses in the fight against inflation. 60 million euros will be allocated from the state budget for this purpose. President of the Republic Nicos Christodoulides announced the decisions in a televised address to the nation. The measures include: Extension of the...
The European Commission's Directorate-General for Competition has approved the Cypriot government's plan to subsidize the interest rate on housing loans. The program will provide support to families with an annual income of less than €50,000 who took out a mortgage between January 1, 2022 and December 31, 2023 for an amount not exceeding €400,000. The subsidy will cover 50% of the increase in the...
Step back in time and experience the evolution of motoring at the Cyprus Historic and Classic Motor Museum in Limassol. This unique museum houses a collection of over 240 vintage cars, taking visitors on a journey through more than a century of automotive history. A treasure trove of automotive history From the moment you step through the doors of the museum, you are transported to a bygone era. The...
Cyprus, an island that was the center of various ancient civilizations, is an open-air museum in itself. But this is not a reason to neglect visiting traditional exhibition buildings. We have collected five museums where you can spend your time with interest and benefit. And they are not only about ancient culture. Cyprus Police Museum, Nicosia The Cyprus Police Museum is located at the intersection...
