Why the Cyprus property market is a matter of incentives

By Pavlos Loizou, CEO Ask Wire  

Walk through the centre of Nicosia, Limassol, or Larnaca and the pattern becomes impossible to ignore. Vacant plots sitting idle for decades. Buildings — put up in the sixties and seventies on the back of independence-era optimism — now standing peeling, neglected, quietly deteriorating. And yet, right next to them, rents are rising. In Nicosia, average asking rents for apartments have increased by