The article discusses the current state of the real estate market in Cyprus in 2023. It highlights that the market is experiencing its most active year since 2008, based on the analysis of sales contracts deposited in the Land Registry Office during the first five months of each year.

The Larnaka Municipality has announced that three beaches in Larnaka have been awarded the prestigious Blue Flags this year.

The Cypriot parliament has passed a law allowing for a reduced value-added tax (VAT) rate of 5% on first homes

The Palm Beach Hotel in Larnaca, a well-known establishment in the tourist area of Oroklini, has been purchased by an Israeli company with interests in other hotels in the region.

Accor Group's mid-range hotel chain, Mercure, has entered the Cyprus market with the opening of Mercure Larnaca Beach Resort in Oroklini.

A total of 1,929 apartments and 864 houses were sold during the previous year