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Stay informed: Updates in the Cyprus Real Estate Market

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European Central Bank Signals Potential Rate Cut, Emphasizes Data Dependence

 

The European Central Bank signals a forthcoming rate cut, as Governor Pablo Hernandez de Cos emphasizes data-driven decision-making. Confidence in inflation's return to target, coupled with the need for additional information on economic indicators, guides the cautious approach. Collaboration with Cyprus Central Bank Governor Constantinos Herodotou underscores the importance of being timely but not premature in policy adjustments. The ECB awaits March projections for further insight. Balancing the impact on financing conditions and the real economy remains pivotal in navigating uncertain times.

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Resilience Amidst Challenges: Robust Performance of the Cyprus Real Estate Market in Q4 2023

Despite inflationary pressures and high interest rates, the Cyprus Real Estate Agents Registration Council reports robust performance in the local property market during Q4 2023. With 3,534 property transfers totaling €517.3 million and €913.6 million deposited through 2,907 sales documents, key districts like Nicosia and Limassol lead in transactions. President Marinos Kyneyirou underscores the sector's importance to the economy, urging price rationalization and supportive government policies. Access to comparative property sales data enhances transparency, showcasing the market's resilience amidst challenges.

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PwC Cyprus: New publication for the Cyprus real estate market

This paper presents a comprehensive analysis of the Cyprus real estate market based on the latest publication from PwC Cyprus. The study examines the performance of the sector throughout 2022, focusing on key metrics such as total transaction value, volume of transactions, and trends across different property segments and regions. Findings reveal a record-high total value of transactions, driven primarily by the robust performance of the apartment segment. The study also highlights the resilience of the high-end residential property market and the continuous growth in demand for properties in the €100k - €300k range. Additionally, challenges such as the hike in material prices and its impact on building permits are discussed. Overall, the analysis underscores the resilience of the Cyprus real estate sector amid geopolitical challenges, driven by demographic shifts and growing foreign interest in the market.

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Total Value of Building Permits Reach €162.8M

Sourcehttp://www.goldnews.com.cy/en/real-estate/total-value-of-building-permits-reach-%E2%82%AC162.8m

The Statistical Service has announced that the number of building permits authorized by the municipal authorities and the district administration offices during March 2018 stood at 531. The total value of these permits reached €162.8 million and the total area 146.1 thousand square metres. These building permits provide for the construction of 467 dwelling units.

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Διόρθωση της νομοθεσίας για εγκλωβισμένους αγοραστές ακινήτων

Απάλειψη ή και συμπλήρωση των κενών που εντοπίζονται σε διατάξεις του νόμου περί μεταβιβάσεως και υποθηκεύσεως ακινήτων του 2015 που αφορούσε τους εγκλωβισμένους αγοραστές ακινήτων, επιχειρεί η Επιτροπή Νομικών της Βουλής με προτάσεις νόμου που στόχο έχουν την παραχώρηση τίτλου ιδιοκτησίας στους εγκλωβισμένους ιδιοκτήτες ακινήτων, οι οποίοι έχουν αποπληρώσει πλήρως τις υποχρεώσεις τους.

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