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Archive for 2015

January sales up

The number of properties sold in Cyprus during January increased compared to the number sold in January 2014 according to official statistics from the Department of Lands and Surveys.

Foreclosures hurdle must be overcome

The foreclosures hurdle must be overcome before the Cyprus adjustment programme can be brought back on track, said Eurogroup president Jeroen Dijsselbloem following a Eurogroup meeting on Monday.

Deal on foreclosures may be close

The Cyprus government plans to submit the last of the five bills comprising the insolvency framework to parliament within the next few days according to a source in the Finance Ministry.

Property deals stumble at prices

Property prices and uncertainty about foreclosures are hampering large foreign investments in mature development projects according to would-be investors at the Cyprus Investors Summit.

Cyprus raises overseas transfer limit

The Cypriot authorities have eased the restrictions on the movement of capital overseas; individuals will be able to transfer up to €50,000 a month out of the country from Monday 16th February.

New home construction down 35 per cent

Figures from the Cyprus Statistical Service (CYSTAT) reveal that building permits authorised for the construction of new homes fell 35 per cent last November compared with the same period the previous year.

Swiss Franc loan court cases in March

The first of many court cases against Cypriot banks that issued Swiss Franc loans to those buying property in Cyprus will probably be heard in March according to a report in the FTAdvisor.

Cyprus major tax debtors list

Cyprus Finance Minister Haris Georgiades’ list of the top 50 tax debtors includes property developers, large football clubs and hoteliers and has been published in the public interest by Stockwatch.

Delinquent developers ultimatum

The Bank of Cyprus is to offer a last chance to delinquent developers, including Leptos Estates, Aristo Developers, Pafilia Property Developers, to start repaying their debts or face the consequences.

Cyprus agreement impossible

The Troika of Cyprus’ international lenders has announced that it was not possible to reach an agreement on the review of the Cyprus programme due to the suspension of the foreclosure framework.

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