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Archive for September, 2013

When will they ever learn?

The emerging Chinese market is being put under threat from the “appalling practices” of those in the real-estate sector according to the general secretary of the Chamber of Commerce and Industry.

Free Swiss Franc loan seminar in Birmingham

Birmingham City Football Club is the venue for a free seminar planned for Sunday 20th October for those who have bought property in Cyprus with loans denominated in Swiss Francs.

Immovable Property Tax vote set for Thursday

Having debated changes to Immovable Property Tax for more than a month, it is expected that MPs will vote on the various proposals to amend the law at a Plenary session of parliament on Thursday.

Sharp increase in non-performing loans

A recently issued report on Cyprus issued by the International Monetary Fund (IMF) anticipates a sharp increase in non-performing loans following their reclassification to include all loans in arrears for more than 90 days.

Alpha Bank on the back foot

Alpha Bank Cyprus has written to a number of their clients offering to assist them to continue repaying their obligations to the Bank or to fully settle the loan with a significant discount.

Capital controls to end in January 2014

Cyprus plans to lift all restrictions on the movement of money in January 2014 after becoming the first euro member to seize bank deposits and impose capital controls to avert a financial collapse.

Get a breakdown of your Immovable Property Tax bill

Following complaints from owners of multiple properties that they were not being issued with detailed statements of how their IPT has been calculated, the Cyprus Inland Revenue has acted to resolve the problem.

New home construction plummets

Today’s figures from the Cyprus Statistical Service reveal that the number of building permits authorised in June for the construction of new homes fell sharply compared with the number authorised in June 2012.

Land Registry myth exploded

The myth that Cyprus has one of the best Land Registries in the world was exploded yesterday when Parliament heard that it does not have exact ownership details for a quarter of a million properties.

Cyprus at number twelve in Top of the Props

The interest being shown in Cyprus as a destination for overseas property investors improved last month according to the ‘Top of the Props’ chart published by the TheMoveChannel.com.

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