Property in Cyprus attracts more and more foreign investors. In comparison with other EU countries, the cost of residential and commercial real estate on the island is much more democratic.
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The municipality of Limassol intends to soon resolve the issue of expensive rental housing. For this, social apartments will be built – about 500. According to representatives of local authorities, even this amount can change the price trend.
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Airbnb rental services are very popular with tourists. And this is especially noticeable by the number of concluded short-term lease agreements in Greece. The online service has had a significant impact on trends that have long been formed in the Greek real estate market.
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Deutsche Telekom, the German leader in telecommunications, sees Greece as a platform for investment. The reasons are positive dynamics in the economy and the experience of other countries.
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Simultaneously with the stabilization of the economy, the island’s real estate market began to demonstrate a positive trend. According to the latest data, prices for apartments increased by 1.5%, and for private houses – by 2%.
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In the city of Paralimni in the south-east of Cyprus presented the project of a new harbor called Paralimni Marina. Mayor Theodoros Pirillis noted during the event that the construction of the marina will be the largest in the region. And the implementation of the development project is an important step towards the full modernization of the tourist infrastructure.
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Flamingos flew to wintering at Aliki Lake in Larnaca and other salt lakes of Cyprus. Birds choose the island because there is something for them to eat. And the humidity level is more comfortable than in Italy, France, and Kazakhstan. In these countries, birds live during the remaining months. Sometimes African flamingos fly to Cyprus to escape the heat and drought.
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The Greek Center for Planning and Economic Research (KEPE) has found that the leading online property rental market in the international real estate market is Airbnb. Over 126,000 Greek apartments, villas, cottages, and houses are set out on the platform.
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GREKODOM will also take part in the Second Home Expo Ghent. The developer’s information booth will be located at site 412.
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The real estate market in Greece is stabilizing and rather successfully recovering from the crisis. The reason for the positive dynamics was the growth of tourist attractiveness of the country, which led to an increase in tourist traffic. And last year, the fall in prices for real estate objects stopped.
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The INSETE Institute (Institute of the Association of Greek Tourist Enterprises) conducted a study aimed at identifying the profile of holidaymakers who chose Greece in 2016-2018. Tourists from FYROM (Republic of Macedonia), Cypriots and Albanians were excluded from the total sample. INSETE was interested in the method of booking, availability of higher education, age, income level, and other characteristics.
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14 regional airports in Greece are operated by Fraport (Germany). According to her report, in December 2018, passenger traffic increased by 16% compared with the same period in 2017.
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In the 12 months of last year, almost 34 million people from around the world visited Greece. The tourism industry accounts for 20% of the gross domestic product.
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The Greek Parliament approved the country's budget for 2019. In accordance with it, the growth of external gross product over the next 12 months should reach 2.5%. More than half of the deputies - 154 people out of 300 – positively perceived the proposed budget. 143 deputies turned out to disagree with such a forecast on GDP. In total, 297 people cast their votes at the meeting. 3 did not participate in the discussion.
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Greece opens up huge prospects for investors. For example, the idea of redevelopment promises greater financial gain. Its essence is to acquire an irrelevant object and change it so that it becomes popular in the real estate market. In Greece, there is low demand for office buildings, but at the same time, there is a shortage of offers in the residential real estate market.
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