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Reports written by Editorial

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.

Citizenship schemes need greater scrutiny

During his visit Cyprus, the Prime Minister of Malta Joseph Muscat said that level of scrutiny regarding European citizenship schemes needs to be upped and that, generally speaking, Malta’s system was in order.

EU citizenship schemes need full transparency

Cyprus has been told that all EU citizenship schemes need to have full transparency and Brussels has deployed experts to ensure these schemes prevent tax evasion, money laundering and security threats

Ayia Napa golf course plans rejected

Plans to build a golf course at Ayia Napa have been given the thumbs down by the Environmental Department as it will have significant negative and irreversible effects on the environment.

House repossessions at a low ebb

Although recent changes to the law have been made in efforts aimed at helping the Cyprus banking system to reduce high levels of NPLs, house repossessions are still at a low ebb according to Central Bank data..

Affordable housing on political agenda

Sky-high rents have put affordable housing on political agenda with the government drafting a new housing policy in efforts to persuade the construction sector to build cheaper apartments.

What next for Limassol development?

With Limassol’s seafront peppered with luxury towers and new developments, there is almost no room for new projects, so investors are heading outwards while eyeing the area between the new marina and the old port.

High rents and homelessness

A rise in already high rents and an increase in the number of homeless people has led parliament to urgently call on the government to intervene and provide solutions to problems caused by high rents, especially in Limassol.

High rise developments in jeopardy

Property developers consider that the construction of high rise developments is at risk as a new law requires comprehensive environmental studies to be submitted, which will lead to long delays.

Cyprus real estate sector looking up

Cyprus’ real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high.

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