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CHF loans: Another banking scandal?

Approximately 11,000 borrowers were granted loans denominated in Swiss francs (CHF) by banks in Cyprus and the billion Euro question is whether the banks communicated the risks.

Video killed the radio star

Nobody really understands what property valuers do, they don’t make ‘big bucks’ like Chartered Accountants and everyone is usually shouting at them to ‘produce’ the value that they want.

Some relief for trapped buyers

Although the ‘hidden mortgages’ bill is a positive step in the right direction, more needs to be done to resolve the issue of trapped buyers to enable those who have paid for their property to obtain its Title Deed.

Property sector challenges remain

Ernst & Young Cyprus Ltd (EY) has published the second edition of its Real Estate Dynamics Report, which contains an analysis of recent developments in the Cyprus construction and property sectors.

Guidelines on restructuring loans

The Cyprus Debtors Association has published detailed step-by-step list of guidelines on how borrowers may restructure their loans and advising them of their rights if they are being pressed by banks.

Who is parliament trying to protect?

We have to ask the question who is the Cyprus parliament trying to protect following the decision of the House Finance Committee not to put the ‘hidden mortgages’ bill before a plenary meeting of the House.

Real estate tax restructuring a must

Cyprus real estate taxes are steep, unpredictable and complex and must be reduced and simplified if the island’s property sector is to survive and prosper; owning property must be profitable.

Betrayed by the fourth estate

The Fourth Estate, typically the independent press or media, has betrayed us all enabling the First and Second estates, the elite, to run unchecked, as he Third became increasingly self-centred.

Title Deeds: ‘a complete and utter mess’

Although MPs voted though amendments preventing banks from repossessing homes that people have paid for, home buyers will still be unable to secure their Title Deeds until the developers debts have been repaid.

Banking and real estate intertwined

The banking and real estate sectors in Cyprus are intertwined and the restoration of the health of the banking system is a vital necessity for the sustainable recovery of the real estate market.

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