Latest Headlines

Archive for 2015

Swiss Franc loans may cost more

The scrapping of the minimum exchange rate by the Swiss National Bank may increase the financial burden on those who have bought property with loans denominated in Swiss Francs.

Cabinet gives the nod to fourth insolvency bill

Yesterday the Cyprus Council Ministers (Cabinet) approved the fourth of five bills comprising the insolvency framework designed to update and amend the personal and corporate bankruptcy laws.

Real estate prices expected to fall

Pundits in the real estate sector expect that property prices will continue to fall in 2015 but believe that interest from overseas buyers will continue due to incentives introduced by the government.

Swimming pools law changes

A new law that will make a distinction between private and public swimming pools has been proposed by the Interior Ministry and a draft is currently being scrutinised by the Legal Service.

Banks using threats and blackmail

Banks have been accused by the head of the Borrowers Association of misleading borrowers into signing whatever they suggest through unfounded lies, duress, threats and blackmail.

Monthly money transfer limit doubled

Those who have sold their property in Cyprus and wish to transfer the money to their home countries will be relieved to hear that Finance Ministry has doubled the monthly transfer limit.

Has Spain caught the Cyprus tax disease?

People who bought property in Spain are now facing the same problem as those who bought property in Cyprus as the Spanish tax department reassesses the duty payable o their purchase.

Annual property sales up 20 per cent

For the first time since 2010 the number of property sales in Cyprus increased in 2014 compared to the previous year fuelling speculation amongst pundits that that this increase will continue in 2015.

Overseas property sales falter

Although the number of properties sold in Cyprus in December 2014 improved over the number sold in December 2013, sales to the overseas property market declined for the second consecutive month.

Cyprus-style bail-in EU Directive

An EU Directive setting out a Cyprus-style bail-in mechanism for the resolution of failing banks, which harmonises and improves the tools for dealing with bank crises across the EU, came into effect on 1 January.

Back to top