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Category Archives: Real Estate

MASTER PLAN OF SINGLE DEVELOPMENT OF PORT AND MARINA L...

The visit of the Mayor of Larnaca took place on Wednesday, August 25, 2021 Andrea Byra and Scales of the Municipality’s Urban Planning Committee at the premises of Kition Ocean Holdings Ltd, Larnaca Port. The purpose of the visit was to present the new revised Master Plan of the Single Port Development and Larnaca Marina. The presentation was made by the CEO of Kition …

Advantages and disadvantages of buying property in Lar...

Advantages and disadvantages of buying property in Larnaca Buying a home in Larnaca was considered until recently not very profitable in terms of investment. This is because the demand for housing was formed exclusively by local residents: Cypriots and citizens who got local passports. Everything has changed in the last two years. Foreign buyers, mainly Arabs and Russians, have become interested in Larnaca. The construction …

New Larnaca Marina

  Following a three-year international public tender procurement, the Republic of Cyprus reached an agreement in March with a consortium known as Kition Ocean Holdings consisting of a Cypriot and an Israeli company, to redevelop and operate the historic Larnaca Port and Marina, the island’s largest infrastructure project of its kind. With the signing of the Concession Agreement that is expected to be completed …

Cypriots are investing their income in buying new hous...

Cypriots prefer to invest any surplus income in the purchase of a new home or renovation of existing ones rather than saving it in banks, according to the 2019 Fiscal Council Autumn report. Despite the island’s economic recovery and the significant reduction in unemployment, household savings in Cyprus remain at very low levels compared to other EU countries, the report also said. In fact, …

Free Houses offered to people willing to relocated to ...

Over the past few years, numerous towns in Italy have resorted to selling homes for just over a dollar in a bid to revitalize their dwindling communities. Zungoli near Naples and Sicily’s Sambuca were the most recent Italian destinations to get in on the act, launching schemes promoting dilapidated properties for just over a dollar with the hope of attracting new residents. Now, the …

Cyprus among few EU countries were property prices in ...

Cyprus is among the few countries in the EU where house prices fell between 2010 and 2018, a new Eurostat report published on Wednesday said. The largest decreases among member states were observed in Italy (-17 per cent), Spain (-12 per cent) and Cyprus (-8 per cent). Overall, between 2010 and 2018, house prices increased by 15 per cent in the EU. Among the …

Tricks you should know about House insurance

VERY few people read let alone understand the small print when they take out insurance for property. Even if you insure a building for ‘all purposes’ including acts of God (rain, floods etc) be sure that the insurance company has its back covered to avoid a reduction to your claim. Recent events have come to our knowledge leading us to express the following: Excess: …

Which bank in Cyprus has the smallest housing loans op...

The island’s credit institutions have very attractive housing loan schemes on offer for young people who want their own roof but don’t have the cash. However, with the shadow of non-performing loans because of malpractice still hanging over their head, banks are now extremely cautious with lending criteria.  But his does not imply that young people are restricted from getting a housing loan. INSIDER …

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