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Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent in November 2016 Cyprus property sales continued their upward trend in November 2016 with sales rising by 46 per cent compared to November 2015 according to official figures from the Department of Lands and Surveys.

November’s increase follows a 37% increase in October, a 50% increase in September, and a 50% increase in August.

Of those 651 contracts, 463 (71%) were deposited by domestic (Cypriot) purchasers, while 29% (188) were deposited by overseas (non-Cypriot) purchasers.

With the exception of Famagusta, where sales fell 42%, sales rose in all district compared with November 2015.

In percentage terms Limassol led the way with sales up 82%, followed by Famagusta, where sales rose by 74%.

Meanwhile, sales in Nicosia and Larnaca rose by 43% and 3% respectively.

During the first 11 months of 2016 property sales have risen 34% to reach 5,929 compared with 4,439 during the first 11 months of 2015.

Sales have increased in all districts. Sales in Limassol have risen 48% and by 28% in Famagusta, Nicosia and Paphos. Meanwhile, sales in Larnaca have risen by 24%

In 2017 sales are expected to increase as the island becomes more and more affluent and out of recession with unemployment falling and tourism increasing year on year. 2016 was a record year for tourism in Cyprus.

So with Cyprus property sales up 46 per cent could be a good time to buy property for sale in Cyprus, contact us for more information here  http://www.cypruspropertydreams.com/cyprus-property-contact-us/

We are here to help in every way possible to make your search for that fantastic Cyprus property an enjoyable experience.

Read the testimonials from our previous clients who are still enjoying thier life in the sunshine on the fantastic island of Cyprus. Why not take the plunge and come and see for yourself the laid back lifestyle, the fantastic food and people.

During the first eleven months of 2016 sales to the overseas (non-Cypriot) market are up 20% compared with the first eleven months of 2015 with sales reaching 1,459 compared with 1,214 during the corresponding period last year.

The RIGHT time to buy a Cyprus Property

The RIGHT time to buy a Cyprus Property

The new Law

As of 14 July 2016, the Lands and Surveys Department (Fees and Rights) (as amended) (No 2) Law, the reduction of transfer fees of immovable property is now permanent. Buyers can obtain title deeds for their properties in Cyprus and pay:
• no transfer fees; or
• reduced transfer fees; and
• zero capital gains tax for properties purchased up to 31/12/2016

The new Law is applicable

a) when a contract of sale to purchase a property was deposited at the relevant District Land Registry Office on or before 31st December 2014;

b) even if buyers who failed to deposit their contract of sale can obtain a court order in order to deposit it at the relevant District Office;

c) where a title deed for the property has already been issued and the purchaser has fully paid the purchase price and has duly conformed with every other obligation under the contract of sale then the Land Registry Office shall transfer the title deed of the property in the name of such a purchaser albeit the existence of any mortgage or charge due to the seller;

d) where a title deed has not been issued yet, and the purchaser has duly paid the purchase price and conformed with all of his obligations under the sale of contract, then he can proceed to the transfer of the title deeds of his property in his name along with the filing of another application for the update of the title deeds that will make the issuing of separate transfer deeds even faster. This is so, irrespective of the existence any mortgage or other charge on the property.

Transfer Fees

• no transfer fees impose if VAT is paid on the purchase price of the property till 31 December 2016;

• 50% reduction in the payment of transfer fees apply for new purchases until 31 December 2016;

• additional 10% reduction, over and above of the reduction of the 50%, if the purchaser pays the transfer fees within 60 days and before 31st December 2016; and

• a payment scheme of 12 monthly instalments available.

The transfer fees are calculated on the basis, of the market value of the property as at the date of the transfer and are payable at the time of the transfer.

The rates are:
Property value

Example: a property is valued at €200.000, the transfer fees are:
• first €85.430 = €2.563
• next €85.429 = €4.271
• next €29.140 = €2.331
Total: €9.165 less 50% exemption: €4.582

Capital Gains Tax
The sale of immovable property situated in Cyprus till 31 December 2016 will incur 0% capital gains tax.
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The RIGHT time to buy a Cyprus Property

cyprus_passport

Cyprus Citizenship Passport

Cyprus Citizenship Passport  

The Cyprus government has approved a revised citizenship-by-investment scheme, Cyprus Citizenship Passport . Designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

THE COUNCIL of Ministers approved on Tuesday the 13th September 2016, a revised scheme for granting Cyprus Citizenship Passport to non-Cypriot entrepreneurs/investors.
In statements to the press on Wednesday, Minister of Finance Harris noted that the revision of the scheme aims to encourage real investments that would benefit the economy.
The government, he said, wants to attract investors who will chose Cyprus as their basis of residence and economic activity.
Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens.
The most important change, Georgiades said, is that the revised scheme abolishes the provision for collective investment of €12 million, which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.
The new scheme, terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million. Also to persons whose deposits have been impaired due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 million.

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Just a small note to thank your company for finding the property of our dreams in Cyprus.

We would like to thank Brigitta for all the help she gave us.Driving us round all over the place and finding superb properties.Nothing was to much...

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