In the near future, the Cyprus property market is expected to continue on its dynamic path, however, it will not be a bed of roses, and strategic planning will be crucial to navigate changes and challenges ahead. In the next couple of years, we should expect to experience moderate growth as high interest rates stabilise … Read more
The Ministry of Economy and Finance’s its headquarters in the central city of Sejong [YONHAP] Korea’s tax revenue fell 9.1 trillion won ($6.6 billion) during the first five months of 2024, due mainly to reduced earnings from corporate taxes, data showed Friday. The government collected 151 trillion won in taxes over the January-May … Read more
Every profession has its own distinct lexicon, or language, which mitigates any potential misunderstandings.Furthermore, it serves as a barrier to entry and maintains remuneration in line with the level of difficulty inherent in onboarding.Corporate tax exemplifies such a community. Today, we are going to delve into one of its niche domains: investment funds and their … Read more
British house prices rose in May after falling in the previous two months as the property market withstood high borrowing costs, according to figures from mortgage lender Nationwide.Prices increased by 0.4 per cent from April, the data showed. Economists polled by Reuters had mostly expected a 0.1 per cent monthly rise. Compared with May last … Read more
A new AI-powered assistant called Placy has been launched in Cyprus, aiming to transform the real estate sector, according to an announcement released on Thursday. The announcement noted that this tool aims to simplify the traditionally complex property market, offering increased efficiency and insight for both professionals and clients. “Cyprus presents a unique opportunity for … Read more
Office rental rates in Cyprus have reached the highest levels in five years, with prices increasing by about 8.5% year-on-year in the first quarter of 2024. Limassol and Larnaca are leading the way in office rental price increases, with Nicosia showing a steady recovery. Prices for office sales have remained at 2023 levels, with increases recorded in Larnaca and Famagusta district. The demand for modern, Grade A offices is expected to continue throughout 2024, driven by both the private and public sectors.
Fact: Prices of homes being put up for sale in Britain have hit record highs, with the average asking price for residential properties reaching 375,131 pounds (4,578.23) in the four weeks to mid-May.
REALTYon EXPO 2024 is the number one real estate event in the Mediterranean, taking place in Cyprus at the City of Dreams Mediterranean Integrated Resort between 3-4 July. The event will feature 70+ developers and agencies, 12+ hours of panel discussions, and prominent speakers from the real estate sector.
Fact: The Cyprus Parliament is considering legislation to replace the stagnant Category F application process, aiming to lower the real estate investment threshold to €250,000 and reduce the income requirement to €40,000 for the applicant, with an additional €10,000 for each dependent.
Two Chinese provincial capitals, Hangzhou and Xian, have lifted all home purchase restrictions to attract buyers and support their struggling real estate markets. The last property boom in many Chinese cities ended around 2020-2021 due to the pandemic and strict borrowing requirements imposed by regulators. Authorities have been implementing measures to bolster the sector, but many policies have had limited impact. Hangzhou saw a 1.0% increase in new home prices in March, the slowest pace in nearly six years, while new home sales slumped 75% year-on-year in April. The move by Hangzhou and Xian to remove purchase restrictions was described as symbolic and unlikely to significantly boost demand. Analysts believe that prices need to fall further before the property market can see a sustainable rebound in demand.