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29th March 2024
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Yearly Archives: 2016

Falling home prices

The Cyprus Central Bank has reported that home prices continued to fall during the second quarter of 2016 by an average of 0.6 per cent for houses and 0.2 per cent for apartments.

Property tax unpaid by many large owners

Approximately half of all property owners whose properties are valued in excess of half a million Euros at 1980 prices have not paid their property tax analysis of the Tax Department data shows.

Non-performing loans will take time to resolve

The problem of non-performing loans will take some time to resolve due to the complexity of the problem said the Cyprus Central Bank's Governor speaking before a parliamentary Committee.

Strong growth in building permits

The number of building permits authorised by the municipal authorities and the district administration offices during August 2016 stood at 381 according to the Cyprus Statistical Service.

Paphos marina secures funding

The consortium awarded the contract for the construction of the Paphos marina has secured a letter from the Bank of Cyprus in which it guarantees to fund the entire project according to the president of the Paphos Chamber of Commerce and Industry.

Property and currency in the wake of Brexit

British expats living in Cyprus have seen a fall in the Euro/Sterling exchange rate in the wake of the BREXIT referendum and are finding that their UK pensions are not stretching as far as they had planned.

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