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Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

  • 23 June 2020 Historic deal allows property development in British Bases

    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

  • 9 June 2020 Cyprus beaches have the best water quality in the EU

    Cyprus had the highest proportion of bathing sites with excellent water... read more

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 July 2020 Μελέτη για τις περιοχές των Βρετανικών Βάσεων

    Ανακοινώθηκε η περιβαλλοντική μελέτη για... read more

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

  • 23 June 2020 Historic deal allows property development in British Bases

    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

  • 9 June 2020 Cyprus beaches have the best water quality in the EU

    Cyprus had the highest proportion of bathing sites with excellent water... read more

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

Shortage of Housing Units for Rent and Some of our Suggestions that could solve the problem

It has been realized in the market, that there is a large shortage of housing units for rent, as well as a large increase in rental prices.

   

Some of our suggestions for mitigating the problem are as follows : 

1. Thousands of apartments have been built in Larnaca over the last 5 years, which remain closed without being rented. This is for 2 reasons.

Most buyers turned to the VAT service for a reduced rate from 19 to 5%. If someone wants to rent their apartment legally, they have to pay an additional 14% VAT. A special regulatory arrangement could be made whereby the owners pay a fine, for example € 3,000, and put their apartment for rent.

This could immediately create hundreds of units for rent at reasonable prices, due to increased offers. 

The government has taken similar measures many times in the past. For example. The measures they had to take to reduce electricity production pollutants, the creation of sewage treatment plants, projects they failed to fulfil, and now pays a fine to the European Union. 

2. The correction to the distortions of the law, which some people unfortunately without scepticism, exploit and do not pay rent  to owners. Too many apartments and houses are closed without any reason to rent. Correcting the law can also create many new units for rent and at the same through offers  the prices could be corrected and reduced.