Get In Touch
- Grigori Afxentiou 8A,
4005, Mesa Geitonia, Limassol - +357 25 260 708
- +357 95 727 000
- info@quastilo.com
Copyright © 2025 Quastilo - All rights reserved
- Registration Number 1027
- License Number 116/E
International credit rating agency Moody’s has upgraded Bank of Cyprus’ long-term deposit ratings by one notch, from Baa1 to A3, with a stable outlook.
Despite the drop in the number of permits, the total value of these permits increased by 2.3%, and the total area saw an increase of 4.1%.
The Price Index of Construction Materials recorded a slight annual increase this January.
The transaction, worth approximately €750 million, was finalised on February 10, 2025, following regulatory approvals.
January-December 2024, the Value Index is estimated to have recorded an increase of 5.4%
The noteworthy decrease in the number of building permits issued in July 2024
Compared to the same quarter of the previous year, the Index increased by 3.7%.
Bank of Cyprus will subsidize the interest rate of these loans by 1% for the first three years.
Hundreds of buildings remain unmaintained or partially and poorly maintained, creating problems of dangerousness and inappropriateness of the infrastructure.
During this time, the budgets of 11 Ministries and 6 Deputy Ministries, as well as 15 legal entities under public law, have been examined.
In absolute terms, in 2023, revenues from taxes and social contributions increased by €308 billion in the EU
The visit was attended by representatives of businesses, universities and local authorities from sister cities of China and cities of Cyprus
In the period January - September 2024, 14,074 transfers with a value of €3.1 billion were completed
Issues concerning the Department of Urban Planning and Housing and the Department of Land Registry and recorded in the recommendations of the Commissioner of Administration, were examined.
Delays regarding the assessment and expropriation of parcels
The Consumer Price Index increased by 2.0% in the period January-August 2024.
Service competently constantly undertakes legislative and other initiatives and actions aimed at practical support and better information of consumers.
Internationally, the rise in the Confidence Index in the Eurozone
the prices of apartments aimed at students will fluctuate at last year's levels
Compared to the corresponding month of the previous year, the index recorded a decrease of 1.32%.
Еxecution is estimated to be completed 22 months after securing all the necessary permits.
New collaboration comes as part of the overall effort
The total amount of the investment covered by the Scheme is up to €5,000
According to the quarterly accounts of the general government, total revenues, during the period October-December 2023 increased
Тhe reduction of electricity costs, the optimal utilization of natural gas in the Cypriot EEZ, the assurance of supply, the lifting of isolation and the acceleration of the green transition
According to preliminary balance of payments data for 2023, Cyprus's current account has deteriorated
Based on the data of the Statistical Service, a decrease in prices was recorded in the construction sector
The increase is mainly attributed to the increase in the staff of the educational service
For the period January – December 2023, the turnover index in industry showed an increase of 5.8%
The general objective of the project is the effective use and absorption of the financial resources of the Internal Affairs Funds consisting of the Asylum, Migration and Integration Fund
Тhe state has received from the operation of the City of Dreams Mediterranean resort casino and from the five satellite casinos, an amount of €63 million. in taxes and another €25 million from annual license fees
The two Ministers discussed, at the same time, ways to strengthen the energy cooperation between Cyprus and Egypt, among other things to speed up the development of the complex of natural gas fields southwest of Cyprus
In addition to travel allowances, allowances for absence away from home in Cyprus have also been reduced.
The maximum total amount of sponsorship that can be granted to a Large Business is €750,000.
The proposal to create a coalition is supported by 14 investment leaders
The value of the investment in HB stood at the end of December 2023, at €262.8 million compared to €223.2 million at the end of 2022
The finance minister has the authority to decide on the removal of anomalies and the resolution of problems that may arise
As a result, citizens in 18 of the 27 EU Member States rated their life satisfaction on average higher than or equal to the EU average.
The total value of building permits reached 263.2 million euros
A press release states that in its decision issued by the EUIPO upheld an opinion issued earlier this year
The biggest change in economic categories compared to November 2022 was observed in the services category
Building permits are an important indicator of future activity in the construction sector.
Cyprus property market achieves remarkable performance against the background of the negative environment that is still dominant
The objectives of the legislative proposal are, to create and provide land plots ready for development
It is noted that tighter financing conditions have reduced affordability and demand for real estate assets, putting downward pressure on prices
The research and innovation sector has proven its ability to elevate Cyprus as one of the emerging economies based on innovation
The draft law introduces specialisation into the institutional structure of investment funds by providing for standardisation and licensing of administrative services
the Percentage of the increase is calculated according to the increase in the average insurable earnings
Eurostat data shows changes in the market for products such as wind turbines, liquid biofuels and solar panels
Real estate market continues its upward trajectory, recording an increase of 19%
The new parks will operate gradually, within the next five months, after the completion of the shares transfer.
The Commissioner also decided that no additional tax of 5% will be imposed on taxes issued within 2023
Cyprus has witnessed a wave of business relocations from around the world
Parliament is discussing a proposal for law transferring responsibility for managing a share of gambling profits to the state.
An increase in the issuing of building permits was recorded between January and May 2023
The number of business entities registered in the registers of the tax authorities has decreased
As can be seen from the data announced by the Central Bank, deposit and lending rates in Cyprus rose in May.
A 20% increase in sales documents filed with the Department of Land and Survey (TCX) since the beginning of 2023
The Construction Materials Price Index registers an increase of 8.2%
The property market has been moving at a pace that predates the Coronavirus crisis
The exploitation of both natural gas and renewable energy sources of the Eastern Mediterranean region , can make a decisive contribution to addressing the challenges for the Union's energy security
Another revision of the set criteria and value of properties to be subject to the reduced VAT rate
Troodos National Forest Park, which were closed during the winter season for safety and public protection reasons, will now be open and accessible
We have now surpassed the stage of digital transformation in the services and products provided, as we are moving into the period of their intelligent reconstruction by artificial intelligence.
Change of use of the 14 government industrial areas in order to allow the installation of units dealing with the production, transmission and distribution of electricity and natural gas
Cyprus goes to the markets with the aim of raising €1 billion, under the framework of Sustainable Financing
Ministry of the Interior would not proceed with the issuance of the naturalization certificate if the supporting documents proving the payment of the contributions were not presented.
Support programs for citizens to save energy by installing photovoltaics in buildings or buying an electric car exclude those with many children as well as other vulnerable population groups
The government and the Parliament reached an informal agreement to resolve the imposition of a reduced VAT rate of 5% for the purchase or construction of a first home
The new law proposal submitted yesterday to the Parliament, amends the law on courts
The proposed bill concerning the amendment of the Immovable Property Law of 2002 seeks to simplify the existing procedures for determining the reserved sale price of immovable property
The diplomatic presence of Cyprus abroad is being strengthened with the reopening or opening of four new Embassies within 2023.
In the centre of Larnaca, there will be hundreds of square metres of green oasis that have long been neglected and unneeded.
A large photovoltaic park with a total capacity of 72 MW with energy storage of 41 MW / 82 MWh, is planned in the communities of Akaki and Kokkinotrimithia, in the province of Nicosia.
Cyprus remains on the global list as one of the top 100 luxury housing markets in the world
By the Statistical Service employment in Cyprus is showing an increase
The central bank has published an update on the changes in interest rates on loans and deposits in Cyprus in January 2023.
The University of Nicosia and the Cyprus Investment Funds Association (CIFA) signed a Memorandum of Cooperation to expand and strengthen their relations.
Cyprus is among the most affordable countries for retirement
According to data released by Eurostat, in Cyprus harmonized inflation reached 6.8%
Financial Times lists Nicosia to be one of Europe's future cities
They are asking for a 5% VAT renegotiation from a new MINISTRY OF FINANCE
At the highest point since 1986 the prices of construction materials
The Bank of Cyprus announced that it recently received the Quality Recognition Award from global finance giant JP Morgan Chase Bank
In total, the volume of transactions reached 22,500, marking an annual increase of 12%
In January 2023, there was a significant increase in property sales documents filed in the land registry.
The Ministry of Finance is currently pushing a bill to provide tax relief for individuals.
The photovoltaic park will produce electricity silently, without waste or gas emissions, making a significant contribution to protecting the environment.
Pafos' reputation in 2022 is favourable across all sectors of the economy
City of Dreams Mediterranean, Cyprus’ first integrated resort, is expected to be the largest and premier integrated destination resort in Europe.
A new round of interest rate increases is expected by the ECB and the Fed
Cyprus's economic situation is growing, but future prospects remain dim
Deposits and loans in the financial system showed an upward trend in December 2022
According to an announcement by "in the area where tall buildings are erected, such as the one planned on Kinyra Street in Nicosia"
The Paphos Chamber of Commerce and Industry (Evep) on Wednesday said that foreign investments in the district have exceeded €15 million in total.
Cyprus wants to introduce a ban on changing first or last name on naturalisation
Construction materials price index rose by 17% in 2022
The value of real estate sold in Cyprus during 2022 is approaching €6 billion
The number of new building permits continues to fall in Cyprus.