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Global real estate market news: January 2024

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Our pilot news-block on Prian.info

The main topics on the agenda:

  • Greek golden visa was the world’s most popular in 2023. By the end of November, Greece had received an all-time record of 7,752 applications for obtaining a residence permit – already 78% more than in the whole year of 2022.
  • The new rules for short-term rentals in Turkey. The new regulations on daily accommodation rentals for tourism purposes have come into force on Jan. 1, 2024.  We have prepared an overview of the main requirements.
  • Bulgaria joins Schengen. Romania and Bulgaria have reached an agreement with Austria to join the European Schengen area of free movement by sea and air from  March 2024. The question of the opening of land borders has yet been postponed. It is interesting how joining Schengen will affect the real estate market of these countries.
  • 2023 promises to have been the most productive year on the real estate market of Cyprus. The number of property sales in Cyprus in 2023 has reached the highest level in 15 years. 

Quoting conditions of Prian.info materials

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Tags: Market Analysis, Immigration, Investment, Rent, Real Estate, Immigration programs, Cheap property, Residence permit and citizenship

Read also

Cyprus is reducing the frequency of property valuations
This means that the property value for taxation purposes will be updated less frequently.
Holiday home rentals and sales are booming in Cyprus
Over the past eight years, short-term rental rates for resort properties on the island have...
Bulgaria has introduced important amendments to the citizenship law
Now some applicants for Bulgarian passports will face stricter requirements.
RICS and KPMG have announced the results of the second quarter of 2023 in the real estate market of Cyprus
The rapid growth of property prices and rental rates continues.
The Cypriot Parliament has eased the requirements for reduced VAT for smaller first homes
The initial area requirement of 150 square meters for such housing has been increased to 190 sq. m.
There is a huge gap between the asking rental prices by landlords and the actual rental rates in Athens.
In some districts the gap can escalate to as much as 35%

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