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Backlash from Cyprus property developers

THE GOVERNMENT is facing a backlash from Cyprus property developers and estate agents over plans to introduce a 15% VAT charge on land purchases from July 1, with many saying the regulations are not clear. One estate agent said local buyers may now be priced

Sylikiotis wants to halt Cyprus house price increases

THE election campaign slogan of newly elected President Demitris Christofias for a “just society” passes mainly through his Ministry, given the fact that the majority of the laws which regulate internal administration has to do with issues the Minister of Interior deals with. Neoklis Sylikiotis returns to the “Ministry of the Citizen”, as he calls […]

Loan financing further reduced for Cyprus property buyers

THE Central Bank of Cyprus has stepped in once again to reduce loan financing for those buying property in Cyprus. In October last year the Bank reduced financing from 70% to 60%; but in spite of this move, housing loans continue to surge, reaching a record €8.26 billion in January this year. The new measures […]

Paphos property sold for 66 million

According to Stockwatch Ltd, KEO has sold its property at the Tombs of the Kings in Paphos to a joint venture of Athienitis and Aristo Developers for €66 million. According to newspaper “Politis”, the development will be uniform but the property will be separated in two parts, the commercial and the housing. Aristo will deal […]

Moratorium on golf courses

Ecologists have requested the Cyprus government to impose a moratorium on the issue of new licenses for the golf courses. In their announcement released today, they demanded the “freezing” of the procedures until the adoption of extraordinary measures to deal with the current water supply crisis. The Ecologists also requested the minimization of the water […]

Property developers move in

LAND developers are showing an interest in the Pyrgos Tylliria area, now that the prospect of the Limnitis checkpoint opening appears firmly on the agenda. Citing sources yesterday, Phileleftheros newspaper claimed that

New Cyprus president elected

LEFT-WING Cypriot leader Demetris Christofias has won the presidential election, defeating rival right-winger Ioannis Kasoulides. In a victory speech, he promised to work on re-uniting the divided island. Mr Kasoulides congratulated him on his victory and offered to help find a solution to the division of Cyprus. Cyprus has been divided since 1974 when Turkey […]

Illegal hotel conversions

THE Cyprus Technical Chamber (ETEK) yesterday accused the government of standing idly by while ailing hoteliers illegally convert their hotels into residential properties. ETEK has compiled a list of 30 hotels which have converted to apartment blocks without permission from the Town Planning Department. Six of the hotels are in Limassol and one was selling […]

Cyprus president ousted

The closest-ever election in the Republic of Cyprus has ended President Tassos Papadopoulos’s five years in power. The MEP Ioannis Kasoulides won the knife-edge poll by just 980 votes, after a turnout of around 90%. The former foreign minister will face Demetris Christofias, who came second, in a run-off vote next Sunday. The election is […]

Cyprus rejects coastal building ban

SIGNATORIES to the Barcelona Convention, an international agreement to protect the sea, have agreed to ban development within 100 meters of the coastline. A total of 14 Mediterranean countries signed a protocol of agreement in Madrid, under which they undertake to stop all building less than 100 metres (about 328 feet) from the coast. However […]

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