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Monthly Archives: October, 2013

MEP questions permits for real estate investments

Timothy Kirkhope, MEP for Yorkshire and the Humber, has raised a question in the European Parliament concerning the issue of residence permits to third country nationals investing in real estate.

Bank of Cyprus reports €2.2 billion net loss in 2012

Bank of Cyprus has announced that it made a net loss of €2.2 billion in 2012, in addition to the €1.4 billion loss in the previous year, reflecting deterioration in its loan portfolio and declining collateral values.

‘Rents in free-fall’ say property owners

George Stovolides, the president of the Land and Property Owners Organization (KSIA) said it strongly opposes rent control legislation warning that it will create new distortions in the market.

Real estate roundup

New housing loans from the Bank of Cyprus, progress on Immovable Property Tax collection and a World Cup probe into a land deal involving a member of FIFA's executive committee.

The importance of property rights

The lack of Title Deeds is important, as it means that property rights are not protected - both for the owner and the financial institution that has granted a loan using a property as collateral.

BBC Money Box: Cyprus property troubles

Earlier today, the BBC Radio 4 program 'Money Box' reported on the problems faced by many British people who purchased property in Cyprus with loans denominated in Swiss Francs.

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