Business Development

Business

Bad tenant register suggested as way to normalise rental prices

Council for Registration of Real Estate Agents president Marinos Kineyirou this week released a statement addressing the issue of soaring rental costs in Cyprus. “The troubling situation with rents is growing as inflationary pressures mount and household disposable income is squeezed,” Kineyirou said. “At a time when everything is getting more expensive, we see that the whole issue is becoming a subject of discussion not only

October 7, 2022 No Comments

Business

Solutions to the rent problem

A good effort by the Cyprus Land Development Organisation (ΚΟΑG) to offer properties for rent (residential) at affordable levels. The announcement by this organisation and Limassol municipality to help lower income groups face in paying rent is noteworthy, although the supply to be provided is not enough to address the problem. In addition to the above effort, we had previously suggested our own thoughts on the

September 29, 2022 No Comments

Business

Property developers scramble to meet demand as Limassol leads the way.

The high demand in the Cypriot real estate sector is in the process of being met with numerous high-value investments, with the Limassol district taking the lion’s share, the Council for Registration of Real Estate Agents said on Thursday. “The dynamic momentum that has developed in Limassol’s real estate sector continued unabated during the second quarter of 2022,” the council said, noting that Limassol accounted for

September 9, 2022 No Comments

Business

Real estate sector resilience to be tested in coming months

Cyprus’ real estate sector is exhibiting resilience and adjustability, Council for Registration of Real Estate Agents president Marinos Kineyirou said on Monday. However, Kineyirou warned that the market will become more challenging in the coming months as households’ purchasing power will continue to be squeezed, while businesses are likely to put off any major investments for a later time. “At the same time, the upcoming increase

July 29, 2022 No Comments

Business

The quality of a house depends on certain criteria

We are very often faced with the question of whether improving the quality of a project will pay off. This is not an easy question and the answer depends, amongst other things, on what the quality is and whether the cost of higher quality is affordable for the wide market. The main criteria in terms of quality, is the location. The better the location, the availability

July 22, 2022 No Comments

Business

Increasing the chances of selling an older house

Homes that are 30-40 years old are likely to need improvements to meet today’s standard of living, especially houses which were built according to the owner’s specifications at the time. This is particularly important if you are thinking of selling at any point. Regrettably, nowadays, houses are like a car, in that each year a new model comes on the market with all sorts of added

July 13, 2022 No Comments

Business

‘Construction sector can support Cypriot economy in difficult times’

Cyprus Land and Building Developers Association general manager Mersina Isidorou on Tuesday said that the Cypriot construction sector can help the economy withstand the challenges that it is being faced with. “Our industry is essentially Cyprus’ heavy industry,” Isidorou said, adding that it should once again assume the role of the core pillar of support and help the economy overcome the difficulties and challenges that have

June 17, 2022 No Comments

Business

‘Cyprus property market not going through a bubble’

Council for Registration of Real Estate Agents president Marinos Kineyirou on Wednesday said that the Cypriot property market is not currently going through a bubble, despite the concession that prices have indeed been increasing. “It is a given and expected that as the prices of raw materials continue their upward trend, the final selling prices of new properties will inevitably increase,” Kineyirou said, explaining that the

May 27, 2022 No Comments

Business

Cyprus economy: challenges and prospects

Cyprus’ GDP decrease in 2020 was bound to 5 percent, notwithstanding disturbances in global exchange, supply chains, and air transport. Simultaneously, unemployment was reduced to moderately low, given the conditions, level of 7.5 percent. By 2021, Cyprus outperformed beginning assumptions, arriving at a palatable development pace of 5.5 percent. The better than expected performance in 2021 is mainly attributed to four factors: (a) the containment of

March 24, 2022 No Comments

Business

Cyprus’ recovery and resilience plan.

Following an unprecedented crisis due to the pandemic, Cyprus’ recovery and resilience plan responds to the urgent need of fostering a strong recovery and making Cyprus future ready. The reforms and investments in the plan will help Cyprus become more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions. To this end, the plan consists of 75 investments and

January 5, 2022 No Comments

Business Development

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