Cyprus Airports Get €170M Upgrade to Welcome More Tourists
Cyprus is investing €170 million to expand Larnaca and Paphos airports, with construction set to begin in late 2024. The upgrades aim to boost capacity, improve passenger flow, and enhance traveler comfort. Larnaca Airport will see expanded gates and terminal areas, while Paphos will benefit from additional baggage systems and border control areas. These improvements […]
Cyprus Property Market: Steady Growth with Challenges Ahead
The Cyprus property market is expected to experience moderate growth in the coming years, according to an article by Kyriacos Kiliaris from Danos International Property Consultants & Valuers Danos International Property Consultants & Valuers published in the Financial Mirror Financial Mirror. While foreign investment remains strong, rising construction costs and challenges for local buyers are […]
Cyprus Court Ruling Reveals Past Risks, Experts Offer Safeguards for Future Homebuyers
A recent Court of Appeal decision in Cyprus sheds light on a past practice that left some homeowners vulnerable. The ruling clarifies that banks can potentially foreclose on properties previously mortgaged by developers, impacting “trapped buyers” who haven’t received full ownership despite paying for the property. While this is a significant concern for affected homeowners, […]
Construction Material Prices in Cyprus Continue to Decline
The Construction Materials Price Index (CMPI) in Cyprus recorded its eleventh consecutive annual decline in June 2024, driven primarily by decreases in metal products and iron. According to data released by the Statistical Service of Cyprus (Cystat), the CMPI for June 2024 stood at 117.47 units (with 2021 as the base year), representing a 0.10% […]