A lot of investment has been undertaken for touristic development ranging from hotels to quality places of entertainment and even more important addressing the upgrading of staff, food and service. Previous years with the tourist arrivals have been increasing by approximately 8% p.a. and this, coupled with the planning relaxation given by the then Government, … Read more
The fact described in the text is that the north’s ‘parliament’ passed a law clamping down on foreigners buying property, limiting them to one house or apartment on less than 2,500 square meters of land.
Fact: Turkish Cypriot leader Ersin Tatar stated that Israel “is not our enemy” and that the country has become a brand destination in education and tourism.
A Ukrainian woman was arrested in Cyprus for attempting to stage a theft of €420,000, which led to the discovery of a money laundering ring. She had made 20 trips to Cyprus, bringing in about €8 million over six months for property purchases. The 31-year-old will face trial on April 17 and remains in custody. She faces 60 charges related to money laundering and other offenses. Her activities included declaring large sums of money at customs and claiming to invest in property. Further investigations will involve Europol and Interpol, focusing on her financial activities in Cyprus.
The text discusses various alternative living options available in Limassol, Cyprus, for those seeking something different from traditional housing. These alternatives include luxury apartments and penthouses with modern amenities, traditional Cypriot village houses offering an authentic experience, modern villas with sea views designed for luxury and comfort, sustainable eco-homes focusing on environmental consciousness, and investment properties for rental purposes. Limassol is highlighted as a cosmopolitan port city with a booming real estate market that caters to a diverse range of preferences and needs, making it an attractive location for property investors, home seekers, and those looking for holiday homes or investment opportunities.
Last year, the top 50 real estate transactions in Cyprus generated a total of €285.8 million. The ten most expensive property deals amounted to €120.4 million, with the highest-priced deal being a plot of land in Limassol Municipality valued at €22.1 million. Limassol dominated the list of the ten most expensive transactions, accounting for nine deals worth €111.2 million. The remaining deal on the list was a field near Paralimni in the Famagusta district sold for €9.1 million. Limassol district accounted for 42% of the total value of all deals, followed by Famagusta with 16.2%. Larnaca and Paphos districts had values of €42.6 million and €41.1 million, respectively, while Nicosia district recorded a value of €35.5 million. The CEO of Ask Wire, Pavlos Loizou, noted the prominence of field plots in high-value transactions, suggesting their future development potential within the next two to five years.