Cyprus Real Estate News and Property Market Reviews

Cyprus officially declared out of recession in the first quarter of 2010 contrary to earlier estimates showing a sixth consecutive quarter of decline. According to the latest data from the Statistical Service Cystat, The revised data show that GDP in the first three months of the year rose in real terms by 0.1% over the [...]

Cyprus still has an advantage over Europe concerning the potential growth rate of its economy despite the global financial crisis. Speaking after a meeting with political party representatives and social partners, as well as government officers, to discuss the European Commission document on the future of the Lisbon Strategy, Minister of Finance Charilaos Stavrakis said [...]

Cyprus could be the only EU member state to see growth in 2009 and the Mediterranean island state is working on alternative measures to combat fallout on its economy from the world financial crisis, according to reports. According to the EU’s spring economic reports, The Cyprus economy would grow 0.3 per cent in 2009 and 0.7 [...]

According to the Cyprus Statistical Service (CYSTAT), there is increase in the number of building permits issued in January 2009; investment activity in the construction sector is showing signs of recovery as Building permits constitute a leading indicator of future activity in the construction sector. The total area of projects that registered building permits in [...]

Research has shown that Cyprus is the cheapest place to retire abroad, despite the economic downturn. According to shelteroffshore.com, expatriates are now enjoying a number of financial breaks since moving to Cyprus. The tax burden on the Mediterranean island would be far lower than in the UK, as expats will be charged less on their [...]

The Cypriot housing market is performing strongly in the face of global economic problems such as the credit crunch, an expert has stated. Jonathon P Salsbury, manager of contracting and developing company Cybarco, said that Property in Cyprus still offer a favorable environment for investors because it is not entirely dependent on international and British [...]

Investment prospects in Cyprus have been boosted by new predictions by the government about the economic growth in Cyprus. Finance Minister Charilaos Stavrak Speaking to Reuters said that its economy will grow by about four per cent this year and a slight drop during the second quarter of 2008 was a seasonal oddness, partly because [...]

Cyprus mail has reported that Cyprus’s has produced a 3.3 per cent budget surplus in 2007. The finance ministry reports have revealed the budget surplus and this is attributed to its strong economic performance which was mainly due to its real estate market is the reason for this high budget surplus. Cyprus gross domestic product [...]

Forbes mentioned about the government’s official figures as the country’s gross domestic product in 2007 was 4.4 per cent up on the previous year and these figures confirmed the continued economic growth of the island. Cyprus’s economy is 71.3 percent free and this makes it the world’s 22nd freest economy. Inflation rate is fairly low [...]

Latest financial reports from the Cyprus Inland Revenue are a testimony for the fact that the Cyprus housing market has been popular among property buyers. According to the Cyprus Inland Revenue Department total tax revenue till November 2007 jumped 43.3% and that is nearly CYP 321 million or EUR 549 which at the same time [...]