Since 1970
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Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 20 January 2020 Solution found for Evicted Tenants

    Malicious tenants save time when faced with eviction. read more

  • 15 January 2020 US Acceleration of visa liberalization for Cypriots

    Accelerating efforts to include Cyprus on the list of countries whose... read more

  • 13 December 2019 A dream is coming true

    A beachfront with an area of 3.5 kilometres will be released from oil tanks. read more

  • 9 December 2019 Villas for rooftops in Cyprus up to twenty six million euro

    Expensive homes and apartments for sale in Cyprus are growing and populating.... read more

  • 29 November 2019 Νέα Πολιτική Αδειοδότησης

    Υφιστάμενη κατάσταση read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 20 January 2020 Solution found for Evicted Tenants

    Malicious tenants save time when faced with eviction. read more

  • 15 January 2020 US Acceleration of visa liberalization for Cypriots

    Accelerating efforts to include Cyprus on the list of countries whose... read more

  • 13 December 2019 A dream is coming true

    A beachfront with an area of 3.5 kilometres will be released from oil tanks. read more

  • 9 December 2019 Villas for rooftops in Cyprus up to twenty six million euro

    Expensive homes and apartments for sale in Cyprus are growing and populating.... read more

  • 29 November 2019 Νέα Πολιτική Αδειοδότησης

    Υφιστάμενη κατάσταση read more

Positive signs for the Larnaca Real Estate market

The new legislation passed by the Cyprus Parliament that Immovable Property Tax for 2017 will be abolished is a very positive development for the real estate market.  Specifically,  this new legislation provides that Immovable Property Tax for 2016 will be based on 1980 values but reduced by 75% on the amount paid last year.

 

The above new law, combined with the increased demand by foreign buyers for properties by the sea, as well as the restart of housing construction from developers in the favorable locations of Larnaca such as Krasa and Pascal areas, are all indicators of a very hopeful sign for the Real Estate market in the Larnaca region.

 

The banks have slowly begun lending to Cypriot buyers who comply with the new lending criteria.

It is worth noting that despite the fact that some banks have started selling/marketing repossessed properties, there is still a shortage of available flats for sale in good locations such as McKenzie and Dekelia Road.  We are confident that the real estate market is now on a good track.

Real Estate has been our business since 1970.