Since 1970
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Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

  • 11 March 2020 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... read more

  • 5 March 2020 What we know so far about Brexit

    It is now a fact that the United Kingdom has left the European Union since... read more

  • 21 February 2020 One billion euro deal for Larnaca development

    The one billion euro deal with the investor for the one billion euro... read more

  • 18 February 2020 Cyprus as a top destination for headquartering

    The list of large companies that have chosen to relocate or part of their... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

  • 11 March 2020 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... read more

  • 5 March 2020 What we know so far about Brexit

    It is now a fact that the United Kingdom has left the European Union since... read more

  • 21 February 2020 One billion euro deal for Larnaca development

    The one billion euro deal with the investor for the one billion euro... read more

  • 18 February 2020 Cyprus as a top destination for headquartering

    The list of large companies that have chosen to relocate or part of their... 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.