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Archive for September, 2018

NPLs pushing down Cyprus property prices

Higher NPLs in particular appear to drag Cyprus property prices down indicating pressure to dispose of immovable property assets increasing their supply according to European Commission report..

UK nationals’ residency rights post-Brexit

The Cyprus Interior Ministry has published a document explaining the residency rights for UK nationals and their family members following the Brexit withdrawal agreement between the EU and the UK.

Leptos wins appeal to build next to Coral Bay

Cyprus property development company Leptos Estates has won an appeal to build next to the blue-flagged Coral Bay beach in Paphos; plans include the construction of 22 villas and services.

Proposals to modernise rent laws

Legislation proposed by Cypriot MPs aims to overhaul and modernise outdated rent legislation and make procedures more effective when tenants fail to meet their contractual obligations.

Owners of destroyed homes in Pissouri on BBC

Owners of devastated properties in the lakes (Limnes) area of Pissouri featured on the BBC One programme ‘Inside Out South’ broadcast on Monday 24th September 2018 at 19:30 (UK time)..

The Cyprus swimming pool nightmare

Taking criminal proceedings against owners and Management Committees who fail to comply with the swimming pool law and regulations will damage the Cypriot economy – especially tourism.

Lawyers minimum fees in the bin

The Cyprus Bar Association has been forced to repeal rules that required lawyers to charge prescribed minimum fees for their out-of-court work rather than competing against each other on price.

S&P raises Cyprus credit rating to BBB-

Cyprus got its investment credit worthiness back on Friday as Standard & Poor’s raised the country’s credit rating from BB+ to BBB- with a stable outlook, five years after the financial collapse.

Sea caves development a ‘litany of irregularities’

A special audit report into the procedures that resulted in the desecration of the sea caves area of Pegeia in Paphos on the west coast of Cyprus has uncovered a litany of irregularities.

Will NPLs sale affect the Cyprus property market?

Assessing the impact of the sale of non-performing loans (NPLs) will have on the Cyprus property market is not straightforward as George Mouskides, Chairman Cyprus Property Owners Association, explains.

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