New Incentives for Landlords Cyprus has introduced new tax breaks to encourage affordable rentals under the "Renovate-Rent" programme. The initiative, led by the Interior Ministry, aims to increase affordable housing while providing financial benefits to landlords. Tax Benefits for Landlords The proposed laws, presented to parliament on Thursday, grant landlords: Three-year exemption from...
Slight Drop in Construction Costs The Price Index of Construction Materials in Cyprus stood at 117.18 units in October 2024 (base year 2021=100). This reflects a 0.08% decline from the previous month, according to the Cyprus Statistical Service. The dip in October follows recent fluctuations, confirming that construction material prices fell in October. Yearly Comparison: Some Prices Rise, Others...
Foreign Buyers Opting for More Affordable Properties Foreign investors in Cyprus are shifting their focus from luxury homes to more affordable housing, prioritizing residency permits over citizenship. According to a 2023 report by real estate firm Danos, this trend marks a notable shift in the market dynamics of the Cypriot property sector, with Foreign Buyers Opting for More Affordable Properties. Shift...
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