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Archive for October, 2016

Online property valuations revisited

A revised guide to finding Cyprus property valuations on the Department of Lands and Surveys website, which has undergone a major overhaul and now provides a multitude of additional features.

Threat to Paphos marina

A contractual dispute is threatening to derail Paphos marina following a demand by the contracting authority that the initial down payment by the consortium is submitted by November 10.

Fitch upgrades Cyprus to ‘BB-‘

Fitch Ratings has upgraded Cyprus by one notch from ‘B+’ to ‘BB-’ with a positive outlook on continuing strong progress in its adjustment following the 2013 banking crisis but warns that banks remain weak due to the high level of NPLs.

Cyprus property prices rise

The RICS Cyprus Property Prices Index for the second quarter of 2016 includes price changes in holiday homes for the first time with prices in both residential properties and holiday homes rising.

Coops to offer defaulting borrowers a discount

The Cooperative Central Bank is to offer a scheme enabling borrowers to receive a discount of up to 50 per cent on unsecured, terminated loans that have not been serviced for 1,000 days.

NPLs at post December 2014 low

Non-performing loans (NPLs) in the Cypriot banking system fell to a post December 2014 low in August according to statistics released by the Central Bank of Cyprus to stand at €24.55 billion.

Paphos’ water guzzling golf courses

Demand for water in Paphos is increasing as more golf courses are built in the district and if there is little rain again this winter there is a real possibility of severe water shortages again next year.

July building permits fall

The number of building permits authorised by the municipal authorities and the district administration offices during July 2016 stood at 442 according to the Cyprus Statistical Service.

Home prices continue to fall

Home prices in Cyprus are continuing to fall according to the Cyprus Statistical Service’s ‘Home Price Index’ and Eurostat’s ‘House Price Index’, both of which have been released in the last few days.

Legal limbo in Paradise

The Title Deed mess affected thousands of expat homeowners, but for those living on the Paradise Hills estate in Paphos it has been particularly brutal since their British developer went bust.

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