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Archive for 2017

June property sales up 28 per cent

The number of properties sold in Cyprus during June rose 28 per cent compared to June 2016 with sales increasing in all districts with the exception of Larnaca according to official figures.

Limassol becoming a sky-rise bubble?

Referring to Limassol as “the bubble of towers” Politis suggested that the uncontrolled vertical development is causing headaches to town planners, warning that the town could pay the price of uncontrolled development.

Hellenic Bank sells non-performing loans

The Hellenic Bank has sold its non-performing loan (NPL) and real estate management business, to APS Debt Servicing Cyprus Ltd, a member of the APS Holding a.s. group of companies.

Cyprus ‘well prepared’ for skyscraper disasters

The Cypriot authorities have assured that fire safety measures are in place to tackle skyscraper disasters following concerns arising from the Grenfell tower disaster in west London.

Contract signed for Cyprus casino resort

Earlier today a landmark deal for Europe’s largest casino was signed between the gaming authority and the Melco Hard Rock consortium at the Filoxenia Conference Centre in Nicosia.

Reprieve for trapped buyers

The Cyprus government has vowed to continue issuing Title Deeds to trapped buyers despite the recent court rulings that left them in legal limbo according to a report in the Cyprus Weekly.

How many trapped buyers?

Earlier today the Greek language newspaper Χαραυγή (Daybreak) published statistics on the number of trapped buyers unable to get their Title Deeds because of various unpaid developer debts.

Trapped buyers (update 2)

The House Legal Affairs Committee is meeting today in efforts to resolve constitutional issues with the trapped buyers law. Meanwhile here is sitrep from Marina Massoura from the law firm of L.G. Zambartas LLC.

Fight for justice in Pissouri ordeal

British High Commissioner, Matthew Kidd, visited affected residents in the devastated Limnes (lakes) area of Pissouri and is reported to have said he will intercede with government.

Land values also recovering

As home prices enter recovery, so do land values, particularly in Limassol which has already attracted property developers from other coastal areas such as Paphos and Famagusta.

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