Search

1. Fury in parliament over solar energy cuts

A heated confrontation erupted in parliament between MPs and the Distribution System Operator (DSO) over restrictions on home-installed photovoltaic (PV) systems. ...

2. Solar power, minus the power as homeowners left in the dark

Citizens who installed photovoltaic (solar) systems in Cyprus are feeling left in the dark and frustrated as their green energy is continuously cut off, leaving them to rely on conventional electricity. ...

3. Lack of 'Certificate of Occupancy' puts homeowners at risk in 'Rent to Mortgage' plan

A surprising revelation in the ongoing discussion about the Rent to Mortgage Scheme has raised concerns for homeowners across Cyprus: around 60% of the properties involved in the scheme do not have an official certificate of occupancy, meaning that a building complies with all necessary regulations and is safe for use or habitation....

4. Deadline to report solar water heater damage extended to May 14, 2025

The Ministry of Interior has announced an extension for citizens to report damage to solar water heaters caused by recent freezing temperatures....

5. Fire ravages three-story home in Egkomi, nearby residents evacuated (video)

A fire broke out late Tuesday night in a three-story wooden house in Egkomi, causing extensive damage and prompting the precautionary evacuation of nearby residents....

6. Cyprus tax reform: A win for families, a challenge for businesses

Cyprus is set to undergo its first major tax reform in over 20 years, with changes expected to align the system with the country’s evolving economic landscape....

7. Cold snap damages solar water heaters

The recent icy temperatures sweeping across Cyprus haven’t just hit crops hard—they’ve also wreaked havoc on solar water heaters in homes across the island. ...

8. Agia Varvara residents demand fair compensation for power surge damages

Residents of Agia Varvara are voicing their frustration after a sudden power surge on January 23 destroyed electrical appliances in their homes....

9. Deadly fire sparks urgent calls for electrical safety overhaul

A tragic fire in Limassol that claimed five lives has reignited concerns over electrical safety regulations in Cyprus. Experts are pointing to serious lapses in oversight, faulty installations, and a lack of routine inspections as key factors behind preventable fires....

10. Struggling families at risk of losing homes on government-granted land

Low-income households that received state-owned land to build their first homes now face the real threat of losing their properties to lenders, according to a damning report by the Audit Office of the Republic of Cyprus....

11. New EU directive to shake up electricity pricing in Cyprus

12. Cypriots losing confidence in solar energy amid frequent shutdowns

In recent years, Cyprus has been pushing hard to adopt renewable energy, particularly solar energy, by encouraging homeowners to install photovoltaic (PV) systems. ...

13. Bomb explosion targets empty Limassol home

A bomb explosion in the early hours of Wednesday, January 15, shook the Limassol district, targeting the home of a 34-year-old woman. While the property is newly built and uninhabited, the incident has sparked intense police scrutiny....

14. President's banking measures spark surge in first-home loans

President Nikos Christodoulides' efforts to support citizens through new banking measures are beginning to yield results. Meetings held in December with the CEOs of Cyprus’ two major banks, Bank of Cyprus (BoC) and Hellenic Bank (HB), appear to have sparked a tangible interest in first-home mortgage schemes....

15. Homeownership in Cyprus drops below EU average

In 2023, 68.8% of Cypriots owned their homes, slightly below the EU average of 69.2%, according to Eurostat. Conversely, 31.2% of the population lived in rented housing, just above the EU average of 30.8%....

16. Bank of Cyprus rolls out support measures for vulnerable groups

After a tense voting session last week, when the bill to tax bank profits narrowly failed to pass in Parliament, the Bank of Cyprus seems to be stepping up with measures aimed at helping vulnerable communities across the island. ...

17. Government launches mortgage subsidy to ease inflation’s grip

The government of Cyprus is stepping up to help homeowners struggling with rising interest rates and inflation....

18. Primary residence and the benefit of 5% reduced VAT rate

Nowadays having your own permanent residence is a must, however the cost for the acquisition or construction of a house/apartment has significantly increased in the last few years....

19. Theft on the rise, police urge vigilance

Authorities in Cyprus are warning residents to stay vigilant as reports of theft continue to rise, including a recent case involving €10,000 worth of jewelry stolen from a home in the Kofinos area....

20. Bank of Cyprus reports €401 million profit surge

In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...

21. Cyprus real estate market falters as October sales drop 6%

With just two months left in the year, October has shown that, despite some resilience, the market remains unable to inspire optimism. Economic indicators for the average household have not sparked an uptick in investment interest, and the ongoing geopolitical instability is growing....

22. Banks see boost from ECB rate cuts

The Association of the Cyprus Banks (ACB) said on Thursday that it sees further progress in the economy, driven by the reduction of interest rates......

23. Using AI to steal your homes from under your nose

The rise of artificial intelligence (AI) is changing the game for real estate scams, making it easier for criminals to pull off tricky schemes like deed theft....

24. Hellenic Bank boosts first-time buyers with reduced rates

Hellenic Bank has introduced a new scheme offering reduced interest rates for first-time homebuyers....

25. Bank of England cuts interest rates after nearly a year of stability

The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....

26. Rentals rise as home ownership trends change

Around 20-25 years ago, Cyprus was renowned for having one of the highest rates of home ownership globally, with figures nearly reaching 78% - 80%, as per the data available then....

27. Finance Minister extends rent program to assist more homeowners

The Cabinet has approved an expansion of beneficiaries for the Rent Relief Program against Installments, announced Finance Minister Makis Keravnos after the body's session. ...

28. Why marriage shouldn't be the answer to €2B loans

In 2023, Cyprus secured a substantial loan totaling €2.02 billion from the Bank of Cyprus, earmarking €510 million specifically for housing initiatives. ...

29. Foreclosure fate tied to 'Mortgage-to-Rent' scheme

Cyprus' parliament has given the green light to a groundbreaking law aimed at empowering homeowners and offering relief in the face of mortgage challenges....

30. Town in Croatia sells homes for 13 cents

In the northern town of Legrad, Croatia, a creative initiative offers homes for as low as 13 cents to attract new residents. Launched in 2018, the program aims to reverse population decline, with already promising results....