A gangrene that has plagued the real estate sector for years, preventing the rapid issuance of property titles in the name of building buyers, is trying to cure the Ministry of Finance, in collaboration with the Land Registry.
Property sales in the Larnaca district nearly reached €3 billion in value over the past five years, a report from independent real estate asset management and advisory firm WiRE has shown.
Important projects, which will upgrade the quality of life of the residents and will give new life to several areas of Larnaca, are planned within 2022 by the municipality of the city that is preparing to bid. These are co-financed projects, for which funds will be raised from the EU Structural Funds.
The dismantling of the oil, gas and asphalt installations from the Larnaca coastal front is expected to be completed within two months.