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Monthly Archives: February, 2014

Troika back-tracks on Title Deed backlog

The Troika has dashed the hopes of those waiting for Title Deeds to be issued for the reported backlog of 130,000 'deed-less' properties as it has changed the scope and definition of 'the backlog'.

Property sales going from bad to worse (updated)

Update - 17 February. The Cyprus real estate market continues to decline with property sales in January falling 22 per cent compared to January 2013 according to the latest statistics issued by the Department of Lands and Surveys.

Courts can amend foreign currency loans

Advocate General Niels Wahl of the EU Court of Justice has advised that national courts can force banks to replace unfair contract terms for customers holding foreign-currency loans.

Capital controls could be lifted by year-end

The capital controls that currently hinder the repatriation of proceeds from the sale of property in Cyprus could be lifted by the end of the year if substantive progress is made on the economic adjustment programme.

Stemming the rise of non-performing loans

If the rise in non-performing loans is to be stopped, the Cypriot banks need to start thinking 'out of the box' and employ innovative approaches that can provide short and long-term solutions to the problem.

Cyprus Title Deeds bank extortion (updated)

Update - 13 February. Receivers acting for the Alpha Bank are threatening to sell the homes of people who purchased property from defunct developer unless those people pay off the developer's defaulted mortgages, their taxes and other creditors.

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