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Archive for April, 2014

Title Deeds issuance completed by year end

The Land Registry should complete its revaluation of all properties by June 2014 and the Finance Minister expects it to complete the issuance of Title Deeds as agreed with the troika by the end of the year.

Cyprus moves up in Top of the Props chart

Cyprus moved up one place in last month’s Top of the Props chart published by the TheMoveChannel.com which records the most searched for overseas destinations to buy property.

Standard & Poors & Fitch lifts ratings

Standard & Poors lifted its rating on Cyprus to B, while Fitch revised its outlook on the country to ‘stable’ saying that the economy “has proved more resilient than previously expected”.

Possible ‘Development Bank’ to manage NPLs

The Bank of Cyprus Board of Directors is expected to decide today whether to establish a “development bank” to deal with the problems of non-performing loans according to state broadcaster CyBC.

Cowboy Builders investigate British developer

A British developer who turned the dreams of those looking forward to a peaceful retirement in Cyprus into nightmares came under the spotlight in the Channel 5 series ‘Cowboy Builders Abroad’.

MEP questions clearance of Title Deed backlog (updated)

Update 24 April. MEP Robert Sturdy has raised a question in the European Parliament requesting the Commission for an update on the current state of affairs concerning the clearance of Cyprus’ Title Deed backlog.

Property sales jump (updated)

Property sales in March increased 20 percent compared to the corresponding period last year according to official statistics published earlier this week by the Department of Lands and Surveys.

Escape to Limassol

Escape to the Continent returned to Cyprus in October last year to help David and Yiola, a retired couple from Cornwall, hunt for houses in the Limassol region of Cyprus for a permanent home.

The fly in the ointment

Parliament should go ahead and name-and-shame all those who have enjoyed privileged loans from the banks, some of which were for personal use and vast amounts were written off.

One in four construction firms bankrupt

The Registrar of Companies has been reported as saying that one in four construction firms in Cyprus are going bankrupt due to the pressure caused by the island’s financial crisis.

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