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Information in this section is updated frequently .
According to one of the editors of the Sunday Times, Harold Evans, a news story…
… is about necessary information and unusual events
… should be based on observable facts
… should be an unbiased account
… should be free from the reporter’s opinion
Evans, Harold ‘’ Editing and Design: Volume 1’’ (1972)
– May 2017
In May, the number of real estate sales on the island increased by 59% compared to the previous years. A total of 756 contracts were registered for residential and commercial properties, as well as for land plots – this is the highest monthly indicator in the current year.
The number of transactions has increased in all regions, but most in Limassol and Famagusta (+ 106% and + 58% respectively), followed by Paphos, Nicosia and Larnaca.
The activity of investors in Cyprus real estate is partly due to the desire to acquire property before the introduction of VAT on commercial land sales. For the first five months of 2017, sales of housing and commercial property in Cyprus grew by 17% compared to the same period in 2016.
– Jan / Feb 2017
Top 10 reasons Russians find Cyprus property investments so attractive.
Top 10 reasons Russians find Cyprus property investments So attractive:
Here are our current top ten reasons to invest in Cyprus property and real estate from a Russian perspective:
1. Cyprus practices the same orthodox Christianity as back in Russia:
This helps Russians thinking of moving to the Island as well as general investment in property in Cyprus feel that little bit more comfortable with the way the people and culture work.
2. The Sun:
With less than 20 days of predicted rainy weather, Cyprus is a far cry from Russia’s much cooler climate and something many Russians find very attractive.
3. Cyprus offers passport to big foreign investors:
Now is the time for cash rich investors or people who did not over spend prior on property in Cyprus, Cyprus offers passport to big foreign investors.
4. Growing ties between Russian and Cypriot governments:
Cyprus and Russia have been noted to be quite the happy couple in recent years with President Dmitry Medvedev visiting Cyprus as the first Russian head of state to visit the Island since the “Cyprus problem” of reunification of its Northern and Southern territories became an issue during the late 1960’s leading to Turkeys invasion in 1974.
5. Cyprus economy less affected than much of Europe:
Cyprus’s Economy has seen a hit in tourism levels and its construction sector, which is to be expected, Cyprus has been shrewd of recent and started to diversity its economy into exports, offshore oil and also a more knowledge based sector with the Neapolis development affirming this new found route, Cyprus remains a strong economy.
6. Excellent schools:
Cyprus offers a wealth of good schools with state funded institutions providing good levels of education and also a growing number of private schools of an international flavour allowing for private education to world class standards for any Russian thinking of raising a family in Cyprus there educational options are fantastic for children.
7. Low Taxation:
On a personal and business level Cyprus offers an exceptionally low level of taxation with corporation tax for business at 10% and personal tax at the same level but not kicking in until you have actually earned €19500 above €19500 tax starts to be paid at a pretty average 20% and raises in increments to a maximum tax threshold of 30%.
8. Cyprus joined Schengen Visa Zone ( in 2011):
This opened up travel opportunities for people from Russia who own property in Cyprus and would have otherwise had a more difficult process in trying to move around many parts of Europe despite Russia’s obvious connections with mainland Europe culturally and in business and economics.
9. Limassol Marina development:
Limassol Marina is an exclusive waterfront development designed by a world-renowned team of architects and engineers. It combines elegant residences, a state-of-the-art marina and lots of restaurant and shops. Limassol Marina creates a unique lifestyle of ‘living on the sea’. The Marina is equipped for every vessel from conventional sailing yachts to the latest mega and super yachts. Just a stroll away from the heart of Limassol, the marina is designed to blend harmoniously with the city’s historic harbour, old town and medieval castle. Limassol Marina is destined to become the most exclusive marina resort in the Mediterranean – and one of the finest in the world.
10. Excellent healthcare:
As a European Union member Cyprus offers on par health services as the rest of the developed world with the Cypriot government giving top priority to its continued improvement, with an ageing population the Cypriot government has started to offer incentives to companies in order to bring in more advanced treatments and technology to maintain its record as providing a good quality health care for all.