Property sales in Cyprus up across the board
The first nine months of 2022 have seen property sales rise by 37.2%, recording the most activity in the real estate market since the crash in 2008.
The leaders being Limassol continues with 3,315 sales so far, compared to 2,221 in2021 showing an increase of 49.3%. However, Paphos roared ahead with a massive 69% rise in sales as it recorded 2,028 sales in the first nine months, compared with 1,200 in 2021.
The latest data from the land registry department, published on 4th October, showed that Larnaca has the second highest rate of increase at 53%, with 1,734 sales this year. Nicosia having a 3.8% increase at 2,043 sales and Famagusta 1.9% and 490 sales recorded the lowest rates.
There have been 9,610 property sales so far in 2022 compared with 7,003 in 2021, an increase of 37.2%.
Stockwatch cited experts in the real estate sector who see demand remaining strong despite the fallout following Russia’s invasion of Ukraine and concerns over a looming financial slowdown.
After the previous report from the land registry, released in mid-July, sources from the department told media that the rise in sales was mainly due to domestic demand.
people were investing in property due to the inflation crisis, while also hoping to get ahead of the possible increased lending rates. In addition to the attractive fast-track Cypriot Residency by Investment program.
New companies at the Paphos Mall
According to Phileleftheros (the largest newspaper in Cyprus), the first companies that will rent a space in the building that used to be The Paphos Mall have already been found.
A source told Phileleftehros, that the building’s new owner has already reached an agreement with the Lidl supermarket chain and is already close to an agreement with the DIY Superhome Centre chain.
This will be the third Lidl supermarket to open in the Paphos region in recent years. This will be good news for both locals and ex-pats as Lidl has become a popular choice for shoppers.
The Paphos Mall building was sold in December 2021 for 12.5 million euros by Astrobank to a so far unidentified foreign investor. According to information taken from in-cyprus news, it is a Russian investor.
The building consists of the main supermarket area, 12 shops, a coffee shop, common areas, storerooms, and parking places.
With this building having a convenient location with an abundance of parking space. It shouldn’t be long before these vacant spaces are taken.
Installation rescue points in tourist areas by Cyta
In cooperation with CYTA (telecommunication provider in Cyprus), the defence ministry’s search and rescue coordination centre announced the establishment of modern rescue points in cooperation with CYTA, within the framework of the ongoing effort to upgrade search and rescue services in Cyprus.
The first three chosen high-risk points being:
- Sea caves, Cape Greco, Ayia Napa
- The pier near the old Limassol Port
- Τa Bania beach in Kato Paphos
Each of these points will have a life ring with rope and will be homed in a hard red case which can be used in a rescue operation when a person is in imminent danger. These life rings will be activated automatically by calling the Operation Centre of the Search and Rescue Centre. Each rescue point will be able to transmit images in real-time through a camera.
The need to establish the rescue points in the three locations was based on statistical data indicating how dangerous the areas can be, as well as on the results of a pilot operation of a rescue point at the Agioi Anargyroi area at Cape Greco.
Paphos named among the greenest destinations in Europe
A press release by the Paphos Regional Board of Tourism has confirmed; Paphos has received a European Silver “Quality Coast” award for 2022 and has been included among the top 100 greenest destinations in Europe.
The Paphos coastline was recognised as an attractive destination for visitors wanting to combine holidays and enjoy nature in a city which cares for and preserves the quality of the environment while following practices to protect and highlight the local identity and cultural heritage.
This Silver award and a place in the list of the Top 100 greenest coastal and island regions of Europe honour Paphos but, at the same time commits it to the continuation and improvement of the practices it follows.
The Board of Tourism stated, “with this award, Paphos becomes even more famous for its unparalleled beauty, its picturesque beaches and for its rich and rare vegetation, found primarily in Polis Chrysochous and Neo Chorio”.
The basic criteria for the selection of the greenest destinations in Europe include:
- Cleanliness of the waters
- Biodiversity of the areas
- Conservation of natural resources
- Socio-economic situation
- Cultural heritage
- Air pollution and noise levels
- Quality of tourist infrastructure
- Accessibility and
- Easy access to information, among others.
The first municipal organic vegetable garden established in Paphos
On Thursday 29th September was the official opening of the first municipal organic vegetable garden in Paphos.
The garden area is a large 1600 square metres space which includes:
- Selection of fruit trees
- Olive groves
- Botanic garden
- Greenhouse where vegetables will be cultivated
The main reasons this municipal organic vegetable garden was established was to inform and educate children regarding the importance of organic cultivation and it will be accessible to the town’s schools for students’ visits.
During the opening ceremony, The Mayor of Paphos Phedon Phedonos stressed the importance that the Municipality of Paphos attributes to this project, “not only offers a natural environment but at the same time raises awareness about the importance of organic cultivation”.
Mr. Eric Shukuroglu, CEO of Premiere Skukuroglu (Plant Protection, Plant Nutrition, Animal Health, and Public Health) who funded this project, thanked the municipality for its cooperation.
Fruit of the month
There are many good reasons besides the sunshine when living in Cyprus, another being the Mediterranean diet. With abundance of fruit let’s take a look at the fruit of the month
It is believed to have been first harvested in the Garden of Eden and is considered a fruit-medicine. The pomegranate’s flowers, leaves, bark, peel and of course seeds are all edible.
The Pomegranate has many healing benefits which includes:
Full of antioxidants, vitamin C and potassium
- Controls body weight
- Reduces cholesterol
- Fights against cell damage
- Inhibits viral infections
In addition to the health benefit, the pomegranate has become one of our favourite fruit ingredients when making cocktails. Why not try:
- Pomegranate Martini
- Pomegranate Margarita
- Pomegranate Champagne Punch
I’m actually lucky, my home in the sun is in Konia village, Paphos and my neighbour has a beautiful pomegranate tree in his garden where we can help ourselves. See above photos I have personally taken on 1st October, ready for a taste of Cyprus’s October fruit of the month.
Apollo Aphrodite Gran Fondo – October 2022
This cycling route takes the riders to locations where mythology was born and history was recorded.
This is an idea that becomes reality through the “Aphrodite and Apollo Gran Fondo”, a Cycling for All race taking place this October on the island of Cyprus. This is a race that suits all fitness levels, from beginners to professionals.
The Cycling Gran Fondo will be hosted for only the second time. The route portrays the beauty of the island as well as the 10,000 years of history, civilization and culture of Cyprus and its people.
Your journey takes you the paths of Apollo and Aphrodite; Paphos, the land where the Goddess of beauty and love was born and Limassol, the area where Apollo Hylates was worshipped as a god of woodlands. The views are of great beauty, archaeological importance and authenticity of this beautiful island.
If you couldn’t make the October race, why not open your cycling season in Cyprus – Cyprus Gran Fondo 31st March to April 2nd 2023 – The greatest amateur cycling race in Cyprus.
If you would like further information on buying properties in the Cyprus or discuss you property requirements, please do not hesitate to contact us.