Reports written by Andria Kades
Limassol rent rises spiral upwards
Property rents in Limassol have increased by around 25 per cent over the past two years, much higher than other cities in Cyprus resulting in many locals being priced out of the market.
Pissouri homeowners running out of hope
Property owners in the devastated lakes (Limnes) area of Pissouri are still waiting for the government to fulfil its promise to pay for sorting out the mess caused by land slippage in the area.
Row over Limassol high-rise development
The Limassol high-rise development known as ‘Blue Marine’ has been given the go ahead by the cabinet despite a ruling handed down by a judge in favour of owners & the Municipality who raised objections.
More high-rise towers for Limassol
A further five high-rise towers are set to line the Limassol coast road; the ‘Trilogy’ project by Cybarco next to Enaerios and the ‘Blue Marine’ project by Leptos next to the Limassol marina.
Limassol rents skyrocket
Demand for rental properties in Limassol has grown in recent years as local buyers have difficulty in obtaining home loans due to the banks’ stringent loan conditions and because it attracts plenty of foreign businessmen.
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.
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.
No apologies for foreclosures
Bank of Cyprus CEO John Hourican made no apologies for foreclosures stressing that the bank will focus on uncooperative borrowers and will not foreclose on vulnerable groups that deserve the bank’s protection.
Central Bank blasted on FX loans
The Central Bank of Cyprus has been blasted by the Borrowers Association accusing it of not regulating the banks correctly when they were granting loans in Swiss francs and other foreign currencies.
Pissouri report this month
Home owners living in the Limnes (lakes) area of Pissouri met yesterday to hear what progress was being made to resolve the land slippage problem causing structural damage to their properties.
