Cyprus' housing market improving, after dramatic measures encourage buyers
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After seven long years of house price falls, Cyprus’ housing market is now showing some improvement, amidst recovering economy. House price falls are now decelerating. Property transactions are rising. Residential construction activity is also increasing.
These developments follow the 2015 passage of a "Trapped Buyers Law" to enable access to title deeds, a 2014 regulatory reform to ensure greater transparency, and measures to exempt buyers who buy during 2016 from all future capital gains taxes, and give them a 50% discount on Title Deeds transfer tax.
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