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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

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Prices for buying and renting properties in Cyprus have surged once again
The growth was indicated on a quarterly basis and year-on-year.
The rental prices for luxury housing in some districts of Istanbul are growing out of control
It is getting increasingly difficult to find affordable housing for people with low and medium...
The Parliament of Cyprus is going to consider the new law on jointly owned buildings
This will principally affect apartment complexes.
PwC has published a report on the situation in the Cypriot real estate market in 2023
The sector has demonstrated remarkable resilience and flexibility.
Greece introduces huge fines for “wrong” real estate transactions
Penalties will be implemented for paying in cash – there are still many such cases in the country.
Apartments are more popular than houses in the booming Larnaca property market
Most properties are purchased for residential purposes by locals.

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