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Cyprus property revaluations underway

Cyprus properties are being revalued by the Department of Lands and Surveys to reflect their 2018 values; the revaluation exercise was announced by DLS Director Andreas Sokratous earlier today.

Cyprus construction NPLs highest in Europe

The percentage of non-performing loans (NPLs) linked to the Cyprus construction industry are the highest in Europe according to a press release issued by the European Banking Authority.

Sea caves destruction blocked

The Cyprus Minister of Agriculture has blocked the building permit for the construction of a five-star hotel, residences and villas with swimming pools located next to the sea caves area in Pegeia by Korantina Homes Ltd.

Call to reduce non-performing loans

The International Monetary Fund (IMF) has called on the Cypriot authorities to amend the foreclosures and insolvency laws to tackle the very high level of non-performing loans (NPLs).

Peyia sea caves media reports

The desecration of the sea caves area of Pegeia in Paphos on the west coast of Cyprus by the construction of so-called luxury properties, villas and a 168 room five-star hotel has been the subject of a number of media reports over the past week.

Call for efficient title deeds system

The European Commission and the European Central Bank has called on the Cypriot authorities to establish an efficient title deeds issuance and transfer system in a press release following the Troika’s mission to Cyprus.

Troika back in Cyprus

Representatives from the troika of Cyprus’ international lenders, the IMF, EC and the ECB, have been in Cyprus since Monday conducting a fourth post-programme review, which they are expected to complete next Friday.

Paphos marina decision soon

A decision on Paphos marina, which has been stalled by bureaucracy and delayed by legal battles since an initial study was carried out almost 30 years ago, is due to be made in the coming weeks by a new committee appointed by the Council of Ministers.

Tempers run high at sea caves meeting

Tempers ran high at a Peyia sea caves meeting with the mayor Marinos Lambrou telling Astra Radio that a war had been declared war against the Pegeia municipality and lies and misinformation are being spread in the media.

Measures to protect sea caves

The Cyprus Minister of Agriculture, Costas Kadis,will announce twenty measures to resolve an on-going debate over developments near the environmentally sensitive sea caves area in Pegeia.

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