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  • Hellenic bank violated consumer rights

    Hellenic bank violated consumer rights

    The Cyprus Consumer Protection Service has ruled that the Hellenic Bank violated consumer rights with abusive clauses in mortgage contracts and imposed charges for early debt repayments...
  • Cyprus residence permits statistics

    Cyprus residence permits statistics

    Cyprus issued 16,970 residence permits to non-EU citizens in 2016 according to statistics published yesterday by the Eurostat, the statistical office of the European Union, in a press release...
  • ETEK calls for stricter supervision

    ETEK calls for stricter supervision

    ETEK has called for stricter supervision of building permits and urged the public to check that engineers they wish to employ are registered and licensed after a women claiming to be an architect was arrested...
  • Cyprus property prices on the rise

    Cyprus property prices on the rise

    Cyprus property prices are continuing to rise, according to the thirty-first publication of the RICS Cyprus Property Price Index with apartment and house prices maintaining a steady growth...
  • Home prices up says Cyprus Central Bank

    Home prices up says Cyprus Central Bank

    Home prices in Cyprus (houses and apartments) recorded a quarter-on-quarter increase of 0.5 per cent in the second quarter of 2017 according to the Cyprus Central Bank's latest Residential Property Price Indices...
  • Scheme to alleviate bailout losses

    Scheme to alleviate bailout losses

    Cyprus Finance Minister Harris Georgiades has announced the creation of a scheme to alleviate bailout losses, which amounted to €8 billion, incurred by depositors as a consequence of the bailout...
  • Construction of new homes slows

    Construction of new homes slows

    Following ten months of double digit increases in the number of building permits authorised for the construction of new homes, August saw an increase of 6.6 per cent compared to August 2016...
  • Parliament approves VAT on building land

    Parliament approves VAT on building land

    The new bill imposing VAT on building land has been approved by parliament and will come into force on 2nd January 2018 some ten years after the deadline set by the European Union...
  • Cyprus building permits bureaucracy

    Cyprus building permits bureaucracy

    The World Bank 'Doing Business' report for Cyprus highlights the mind-boggling level of bureaucracy in dealing with building permits involving several government and local authority departments. ..
  • Cyprus property sales up 21% in October

    Cyprus property sales up 21% in October

    Property sales in Cyprus rose 18 per cent in October compared with October 2016 with sales increasing in all districts (with the exception of Larnaca) according to official figures from the Department of Lands and Surveys...
  • Paphos residents fear landslide

    Paphos residents fear landslide

    Residents and businesses in the Mousallas area of Paphos are concerned that their properties could be damaged by a landslide as huge rocks are moving down the hillside above them...
  • Non-performing loans stand at €21.9bn

    Non-performing loans stand at €21.9bn

    Non-performing loans (NPLs) in the Cypriot banking system currently stand at €21.9 billion, or 44 per cent of total loans and 120 per cent of economic output according to the governor of the Central Bank...
  • Peyia goes to court over Vassiliou project

    Peyia goes to court over Vassiliou project

    The Peyia council is taking the Nicosia town planning department to court over its decision to issue a planning permit for a mammoth development on a hillside (Ayia Vouni) overlooking Peyia...
  • More efforts needed to reduce NPLs

    More efforts needed to reduce NPLs

    Cyprus needs to put more efforts into reducing the non-performing loans (NPLs) of the Cyprus banks, which "remain at extremely high levels" said the Chair of the ECB's Supervisory Board...
  • Surge in new homes construction

    Surge in new homes construction

    July saw another surge in the building of new homes with a 40.6 per cent increase in the number of building permits issued for their construction compared to the same period in 2016...
  • Cyprus house price index up 3.1 per cent

    Cyprus house price index up 3.1 per cent

    The Cyprus house price index (HPI) rose by 3.1 per cent in the second quarter of the year and 3.6 per cent on an annual basis according to a preliminary estimate by the Statistical Service...

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