News, page 2

The construction industry in Cyprus reported a 16.5% increase in the total value of new buildings on the market in the first half of 2023. The total area of land under development also went up by 3%, according to the Cyprus Statistics Agency (Cystat). While the total value of new construction projects and the amount of land under development...

Real estate experts from Lefkoşa (North Nicosia) named the advantages of investing in Famagusta District and singled out several areas where investments would be the most profitable. The local luxury housing market is considered particularly lucrative, attracting investors and buyers from all over the world. According to the experts, properties...

In Cyprus, in addition to skyrocketing property prices, the cost of home repairs rose markedly. This refers to both eliminating household emergencies and maintaining the efficiency of utility systems. Experts note that the main reason for the increase in repair prices was the rise in the cost of building materials. In addition, trades people (for...

Courtyard Platinum, a premium residential development consisting of 940 apartments, will be built in İskele. Layouts include studios and 1+1, 2+1, and 3+1 units. In addition to apartments, residents will receive small gardens and rooftop terraces. The internal infrastructure features several outdoor and indoor swimming pools, a shopping street,...

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...

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...

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...

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,...