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Next Previous Cypriot platform for selling real estate with cryptocurrencies HOME • INSIDER • CYPRUS • Cypriot platform for selling real estate with cryptocurrencies 
Socrates Joachim
socratis@phileleftheros.com
The option of buying a property with all kinds of cryptocurrencies is offered by a new platform that has been operating for a few weeks in Cyprus. This is the CryptoHomes platform, which & nbsp; is a consortium of Cypriot and foreign investors, in which interested parties can choose the property of their choice, against the cryptocurrencies in their possession. For the time being, the vast majority of properties are in the province of Paphos, while properties available for sale are also in the provinces of Limassol and Nicosia. In essence, the prices listed on the platform are via Bitcoin and change daily, depending on their price fluctuations. Today, more than 100 properties are available for sale, mainly houses and apartments and secondarily commercial properties, while plots of land will soon be added to the platform. The purpose of the platform, as it was rightly emphasized in the column, is its expansion to other foreign countries, having as a priority the markets of Greece and Israel. It would be interesting, however, to see the Land Registry accept payments for transfer fees via ticketing, so that an operation can be completed exclusively through this alternative payment option. To see what options are available today you can visit https://cryptohomes.com.cy/.
New Jumbo in Nicosia
& Nbsp; 2022 & nbsp; is another year of challenges, both from the direct and indirect effects of the pandemic and from the uncertainty created by geopolitical developments in Europe, the Jumbo Group said in a statement, stressing, however, that its strong and sound economic position offers a comparative advantage. As he states, he continues his investment program fearlessly, as on & nbsp; March 18 & nbsp; the new branch of the Group in Greece is expected to start operating, specifically in & nbsp; Mytilene.
At the same time, for 2022, another supermarket is expected to open in Cyprus, specifically in Nicosia. As for Romania, it is estimated that by the end of the year there will be two stores, one new in Bucharest and one in Sibiu. In terms of sales of the & nbsp; Group & nbsp; JUMBO, & nbsp; in & nbsp; February 2022 & nbsp; increased by + 28% & nbsp; compared to the corresponding month last year. In Cyprus, sales in & nbsp; February 2022 & nbsp; appear increased by & nbsp; + 3.5% & nbsp;, compared to the corresponding month last year. Overall, sales in Cyprus for the & nbsp; first two months of 2022 & nbsp; have increased by & nbsp; + 52% & nbsp; approximately, compared to the same period last year.
Increases in airfare >
The Russian invasion of Ukraine will inevitably boost airfare. According to data from S & P Global Platts, the average price of aviation fuel in February was 262 cents per gallon, 65% higher than last February and 30% higher than in the corresponding month of 2019. After the Russian invasion in Ukraine, prices jumped to 297 cents per gallon and on March 4 were 337 cents per gallon, almost double the price of aviation fuel a year before and after the US-imposed Russian oil embargo, prices are approaching a 14-year record . At a more direct level, the war in Ukraine mainly affects air travel from Asia to Europe, prolonging the duration and cost of flights, as planes bypass Ukrainian and Russian airspace. Industry analysts, however, note that everything will depend on the duration of the war. However, it is assumed that if aviation fuel prices remain high for a long time, the recovery of air travel and the return to normalcy of companies will have some delays compared to estimates before the Russian invasion.
Growing mammoth in the Gate
The company “Syniga Properties Ltd”, which promotes a complex investment Resort & amp; Spa, within the administrative boundaries of the community of Pyla, submitted to the environmental authority a study of environmental impact assessment. This is an investment that will include building complexes of three different types (Type A, Type B and Type C). Specifically:
– The building complex type A will include 10 buildings, 15.5 meters high each. Each building will have 4 floors and a ground floor space.
– The Type B building complex will include 2 buildings, 18.7 meters high. each. Each building will have 5 floors and a ground floor space.
– The Type C building complex will include 2 buildings which will be connected by a main entrance corridor to the development site. The building west of the main entrance will be 3 floors, 13.4 meters high and will include 3 separate shops. Finally, the outdoor development area will include additional parking spaces, a swimming pool and a green area. The purpose of the proposed project is to cover part of the residential and tourist needs of the wider area of Larnaca province. At the same time, it is expected that the operation of the project will create new jobs and further strengthen the region in terms of tourism, strengthening its socio-economic character.
The contribution of sectors to the Cypriot GDP
According to Price WaterHouse Coopers, the GDP of the Republic of Cyprus amounted to € 21.5 billion for 2021, with a composition of 22% from the Tourism, Trade and Transport sector, 19% from the Finance sector , Professional and Administrative Services, 16% from the Real Estate and Construction sector, 21% from the Public Administration, Defense, Education and Health sector, and 22% from Other Sectors. It is good to see the contribution of each sector to the country's GDP, as it is a given that even with the most favorable scenario there will be a blow to specific sectors with tourism and services mainly and the real estate sector receiving the most pressure. According to an analysis by 7Q Investment Group, as a small and open economy, the Republic of Cyprus is particularly vulnerable to international crises, especially when the current crisis concerns one of the most important partners of the Cypriot economy. Thus, a prolonged disruption of diplomatic relations between Russia and the West, as well as the continuation of hostilities for a long time, will have incalculable consequences for world trade and the political and economic agenda. The impact on the GDP of the Republic of Cyprus from the war in Ukraine is estimated to reach 13.10% over a 5-year horizon, in the baseline scenario. As effects are expected in the second year (from the negative impact on the sectors of the economy, the reduction of tax revenues, etc.), 7Q estimates, in the baseline scenario, that the total impact on the GDP of the Republic of Cyprus will amount to 15.72 %. We are looking forward!
KEO expects a blow to sales
KEO plc has no transactions with Russian companies, as the company informs its investing public and therefore does not expect the group's activities to be affected. However, according to the announcement, the group's commercial activities are expected to be indirectly affected due to the negative impact on sales from a possible reduction in tourist arrivals from the Russian and Ukrainian markets. “Possible further increases in the cost of energy and raw materials will negatively affect us,” he said. It is also noted that due to the prevailing uncertainty, the management of the company is not able to calculate at this stage the magnitude of the indirect financial impact. “The company closely monitors developments and, where necessary, takes action to minimize the potential financial impact.” However, information that leads the Archbishop (the Church is a major shareholder of KEO) to request immediate payment of a dividend from the company, for the time being is not confirmed.
