The number of property sales in Cyprus in 2023 reached the highest level since 2007, with a total of 15,567 contracts deposited with the Department of Lands and Surveys.
In the second quarter of 2023, property sales in Limassol neared the €0.5 billion mark.
On 8 June, 2023 the Parliament of Cyprus passed a law allowing for a reduced VAT rate of 5% imposed on first homes.
According to the Land Registry data, last year 22,129 real estate transactions were recorded in Cyprus for the total value of €5.85 billion.
The second phase towards simplifying and expediting the process for town planning and building permits began on the 15th of September
For the period from January to July 2022, the Department of Land Registry of Cyprus executed 7481 real estate sale transactions. According to StockWatch, this is the best number for the last 14 years.
Prices for most types of property in Cyprus are increasing according to the latest statistic figures announced by KPMG.
Cyprus introduces a new plan to attract foreign companies to operate or expand their activities to the island.
In the first months of this year, there has been a significant increase in the number of building permits compared to 2020.
According to the figures came from Eurostat, the statistical office of the European Union, on 8 July, 2021, in the first quarter of 2021 compared with the first quarter of 2020 house prices are up by 5.8% in the euro area and by 6.1% in the EU.
