The government greenlighted the mortgage-to-rent scheme, the latest lifeline for defaulted borrowers, following approval from the European Commission. Government spokesperson Konstantinos Letymbiotis on Wednesday told reports the scheme will be going ahead.
The value of transactions in the real estate sector reached €1.52 bln in the second quarter of 2023, with the market bearing the impact of higher interest rates, inflation and increased construction
Finance Minister Makis Keravnos will present to legislators on Monday a government package of seven proposals to address the issue of foreclosures to block a bill that gives borrowers rights to appeal decisions.
Individuals or competent authorities have not taken the issue of the environment and green building developments seriously. Of course, there has been considerable progress in the last ten years. To this end,
The House Price Index (HPI) recorded a 5.9% annual increase for the first three months of 2023, marking its fifth consecutive quarterly growth, according to a preliminary estimate by the Cyprus Statistical
Sales staff in the real estate sector do not pay particular attention to educating themselves and becoming professionals at the required level. There are 400 registered estate agents, plus another 270 sales
We are often faced with the question of whether adding quality to a project or property will make it more valuable. This is not an easy question since it depends, amongst other
The property market in the capital is attracting strong interest from investors, as another multimillion project is in the pipeline. According to Kathimerini Cyprus edition, a new investment exceeding €60 mln is
The government is pushing forward with plans to introduce an expedited foreclosure court to fast-track financial disputes between borrowers and banks, affording some protection for 20,000 mortgaged primary residences. On Monday, a
While property prices and rents rise due to a shortage in supply, some 33,000 homes across the island are unused, the Cyprus Technical Chamber ETEK, advises the government to introduce incentives for
