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Villa to let and legal obligations
Antonis Loizou, FRICS
We have reported in this paper that one of the best investment returns are the villas to let and Airbnb, especially for such popular localities such as the Famagusta region and to a lesser extent Pafos.
Changing Housing Habits
Antonis Loizou, FRICS
A young couple starts with the acquisition of an apartment 1-2 bedrooms, then depending on their financial ability move on to a larger apartment and then to a house. Other than those who have the financial support of their parents/ family, the circle of housing described is the above for the majority. This circle of housing, whereas it is ordinary in other countries, in Cyprus only the recent 15-20 years has appeared, since local attitudes did not find acceptable the change of homes.
A Con Job in the Making?
Antonis Loizou, FRICS
It is known that for the securing of permanent residency visa, the applicant must buy a house (or apartment) of not less than €300.000 of value and for the passport not less than €500.000 of value - plus VAT.
Incredible delays in title issue
Antonis Loizou, FRICS
Notwithstanding our 36 years of operation in real estate in Cyprus and with numerous development projects in our CV, it is only recently that we got involved directly ourselves to follow the issue of titles (so far outsourced).
Housing Returns Performance
Antonis Loizou, FRICS
The local Royal Institution of Chartered Surveyors Cyprus branch, provides every quarter its own statistics on real estate returns and prices. The most recent one which indicates returns on residential apartments of 120 sq.mts. rates are:
Foreign Investments in Cyprus
Antonis Loizou, FRICS
There appears to be some sort of increasing interest for Cyprus alternative investments. Real estate demand from wealthy buyers is active ranging from the acquisition of top quality houses, to office buildings (as an investment – for income) etc. Other investors (mainly foreign) are looking over the island for other nature of investments such as hotels, whose preference is on the top and with a rather positive future, since the tourist industry is improving. This demand is expected to become more evident during the year 2017/2018 with hotel investments showing a return of around 10% on the cost/value.
The Casino is here
Antonis Loizou, FRICS
A casino dear readers “never loses” and there are always players of all sorts who do not particularly care about the charges and by projection, we hope, do not pay particular attention to the property prices to be in the immediate region
Celebrity Places
Antonis Loizou, FRICS
Last week we wrote about real estate and celebrities and how their “name” and owning real estate in a certain project affect real estate prices. We want to expand this to celebrity places and their effect on property sales and prices. This time we have opted for Mykonos which is becoming more and more popular by celebrities over the very recent years. An island of 30.000 people (winter time) which increases to 100.000 during summer and which accommodates around 2 mil. tourists, is an evident exaggeration of everything.
Quality Beach Services in Cyprus
Antonis Loizou, FRICS
It is interesting to record how public beaches are exploited by the various Municipalities and other local authorities in Cyprus. Beach service in Cyprus so far has been restricted to providing umbrellas and beach beds. You might think that how much is this worth – We can assure you, depending on the beach quality and extent, it can reach an income of €1 mil. p.a. income per area. The recent example at the Paralimni area where the beach collectors (employees of the Municipality) were reporting only half of what they are actually collecting, upon their replacement the income rose by €400.000!! and this for a 3-month season, let alone other areas for the beach use, by locals and tourists which are over a 5-6 month season. The money is big dear readers and Troika has suggested to us (Cyprus) to go out to tenders for the beach facilities. Yet the House with our objectionable MPs turned this down, prompting Troika to ask “how much muscle have the existing beach operators on this country”?
Seasonal Houses & Preparation for Occupation
Antonis Loizou, FRICS
Very few people bother to have their home prepared expecting that everything is okay. What is unfortunate is that if something goes wrong, technicians are nowhere to be found during the summer season, especially during the months of July-September, whereas their charges are at the peak.

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