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Archive for 2017

Slight fall in property sales (Update)

The number of property sales in Cyprus fell slightly in April compared to the numbers sold in April 2016 with increases in Nicosia, Limassol and Paphos wiped out by falls in Larnaca and Paphos.

Bank lending systems stymie Cypriot buyers

The Cyprus banks complicated lending procedures cause stagnation of property purchases by Cypriots according to the chairman of the Cyprus Real Estate Agents Association (SKEK).

Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.

Zero rent increase – wrong decision

How will foreign investors invited to put money into the Cyprus property sector interpret the decision by the Government’s Council of Ministers that there will be no rent increases until 2019?

Commercial court in 2018

In efforts to modernise the Cyprus justice system, a new Commercial court will be set up in early 2018 to deal with claims arising from contracts, company disputes, the purchase or sale of goods, etc.

Limassol looks to Marseille for inspiration

Limassol is seeking to take a leaf out of Marseille’s book in an effort to inject new life into the Aktaia Street area of the city and looks set to adopt the Marseille Euroméditerranée project.

Cyprus attracting more overseas interest

Overseas interest in the Cyprus property market strengthened in March to become the sixth most sought after destination in the Top of the Props index published by TheMoveChannel.com.

Limassol casino contracts imminent

The Melco-Hard Rock consortium is expected to sign contracts for the construction of the multimillion euro casino project in Limassol later this month and should open temporary casinos later this year.

Paphos marina project delayed again

Just when we thought the construction of the Poseidon consortium’s Paphos marina was about to get underway, the consortium has failed to supply adequate evidence of its ability to finance the project.

Europe’s Golden Visa schemes

The ‘Golden Visa’ schemes offered by many European countries, including Cyprus, have their risks and rewards, but could processing delays and other inconveniences stymie interest from Asian buyers?

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