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Archive for 2016

Property price falls slowing

Cyprus property prices have been in decline since the bubble burst in 2007, but it seems that prices are very close to bottoming out according to the latest RICS Cyprus Property Price Index.

Building permits up in December

The number of building permits authorised in Cyprus during December 2015 increased compared to the number authorised during the same period in 2014, according to the latest figures from CYSTAT.

Banks more aggressive over CHF loans

Cypriot banks are being more aggressive over Swiss Franc (CHF) loans and continue to serve Writs of Summons on clients at their UK residences for defaulting on their loan repayment obligations.

Demolition order sought for Tala homes

A demolition order has been sought by the Paphos District Office for 14 properties in Tala built on a hill along the main road leading to Kamares village in Paphos five years after they started to slip.

Resolving NPLs with innovative solutions

A recent seminar in Nicosia focused on the options open to banks in dealing with non-performing loans (NPLs) in Cyprus. Financial expert Erol Riza sums up the advice from key international financial institutions.

Marginal rise in property sales

The number of property sales in Cyprus during January 2016 rose marginally compared to the number of sales in January 2015 according to official statistics published by the Department of Lands and Surveys.

Bank of Cyprus derisory Swiss Franc loan offer

The Bank of Cyprus is proposing revised settlements to borrowers alleging the mis-selling of Swiss Franc loans, but these are derisory compared to settlements negotiated with other Cypriot banks.

Land wrongly designated as Turkish Cypriot

A British citizen of Turkish Cypriot descent has been awarded thousands of Euros in damages by the Larnaca District Court as the state wrongly designated his land as Turkish Cypriot.

Crocodile park permit allegation

Political pressure was brought to bear on the Cyprus Environment Department to allow the operation of a crocodile theme park in the area of Psematismenos, Larnaca according to Green Party chairman Giorgos Perdikis.

Building permits up 3.2 per cent

The number of building permits authorised in Cyprus during November 2015 increased compared to the number authorised during the same period in 2014, while both their total area and value fell.

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