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Archive for June, 2013

How long is the long-run?

How can the government carry out the necessary reforms if its coalition is weak and its main supporters are those who are most heavily indebted in a country that went bust because of too much debt?

Paphos family unable to leave stricken home

Despite being ordered to leave their home on the troubled development at Armou that is slipping down a hillside, a family of four remains as they have no viable alternative at the present time.

Developers warned over Chinese market

Many Chinese people who have bought properties in Cyprus have felt cheated and complained according to Huali Che, president of the Chinese friendship association in Cyprus.

Island of lost dreams for some

BBC report into the collapse of the Cyprus banks that robbed many people of their life savings and left some with half-finished properties turning their dream of a home in the sun into a nightmare.

Meeting of Y Liasides Developers Ltd purchasers

Purchasers of Y Liasides Developers Ltd properties are invited to attend a meeting convened by the liquidator of the company at the Amathus Beach Hotel in Paphos (Cyprus) on 28th June 2013.

Bills to protect homeowners from eviction discussed

Two bills designed to prevent banks seizing primary residences used as collateral for non-performing loans below 300,000 Euro have been discussed by parliament’s legal affairs committee.

New home construction down 40 per cent

Figures released by the Cyprus Statistical Service earlier today show a dramatic drop in the number of building permits authorised for the construction of new homes in March with their number falling 40 per cent compared with last year.

Home buyers may pay IPT before getting Title Deeds

A Cypriot MP has tabled a bill for discussion at the House Finance Committee requiring property buyers to pay Immovable Property Tax even though they do not have the Title Deeds to the property they have purchased.

Property sales plumb new depths in May

Property sales in Cyprus during May recorded their biggest decline in recent years with sales declining 75 per cent compared with May 2012 and numbers falling in all districts across the island.

The sniffing has started

Despite pay cuts, rising unemployment, haircuts on bank deposits, the closure of the island’s second largest bank, etc. there have been no demonstrations, strikes or union protests; Cyprus is a funny little place.

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