News, page 2

A new premium residential development, consisting of upmarket villas and high-end apartments, will be built in the village of Akanthou (Gazimağusa District). The Aurora Bay project will offer a total of 58 properties with sea views. The houses are a five-minute walk from the lagoon with a sandy beach. The project consists of 14 two-storey villas with private infinity pools, six houses with a large communal swimming pool, and 38 apartments. On the roofs of all villas, the developer will make terraces offering views of the surroundings...

A new luxury residential development, Natulux, will be built not far from Küçük Erenköy Beach in Kyrenia District. The seafront project of villas and apartments will stand on a site atop a cliff, providing a 270-degree view. For all residents to enjoy the sea view, the developer designed the development as buildings of varied heights. The following options will be available for sale in the community: Seafront four-bedroom villas with a 360-degree sea view ...

According to analysis, by July 2023, Cyprus started to see fewer real estate sales contracts. In Q2, the total number of transactions amounted to £1.55 billion ($2 billion), while in Q1 2023 and Q4 2022, this figure was £1.72 billion ($2.23 billion). The decline was caused by several factors: inflation, rising bank rates, and higher construction costs. Analysts note that, despite this, the market shows stability. According to statistics, in Q2, there were 5,974 real estate transactions for a total of £1...

In Kyrenia District (the Turkish name is Girne), sales of the fifth phase of the Sea Magic Garden project, a luxurious residential development a 15-minute drive from the administrative centre, have started. The development consists of several two-storey houses, featuring one- and two-bedroom apartments. All units have access to private terraces, which are rooftop in the apartments on the first floor. The developer hands over all the apartments turnkey: with full finishes, heated floors in the bathrooms, pre-installed plumbing...