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Archive for February, 2019

Limassol land registry operating like a free-for-all

The situation in the Limassol Land Registry is chaotic with complaints of dodgy practices, bogus claims for travel expenses and overtime pay, co-workers covering for each other, etc.

Fewer new homes in November

Building permits for the construction of 580 new homes in Cyprus were authorised during November 2018; a fall of 11.9 per cent compared with the corresponding month in 2017 according to official figures.

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.

Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

Warnings of further rent rises in Limassol

Further rent rises in Limassol are expected as thousands of construction workers needed to complete numerous projects will require accommodation in or near the city pushing rents up even higher.

Citizenship linked to president’s family ties

Cypriot citizenship has been granted to a Russian billionaire; a former shareholder in a Russian bank whose premises in Limassol were built by a company co-owned by the president’s son-in-law.

Trapped buyers still at banks’ mercy

Despite promises made by deputies last November that they intended to resolve the ‘trapped buyers’ mess by Christmas, it seems that little (if any) progress has been made towards its resolution.

The Property Consultant …or NOT!

The fact that one is simply marketing to sell/rent an apartment, or two, or a few, does not make him a property consultant or expert in the field but merely one who is selling apartments.

Property sales continue to rise (update)

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.

Airbnb-style rental law faces major issue

A bill designed to regulate Airbnb-style short-term property rentals is almost ready to be put to the vote, but one issue has to be resolved; the ease with which owners would be able to rent out apartments.

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