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New home building permits up 25 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 25.3 per cent in September 2017 compared to September 2016 according to the Cyprus Statistical Service.

Unfair contracts languishing at Legal Service

Fifty two decisions by the Cyprus Consumer Protection Service relating to unfair contracts have been languishing at the Legal Service for two-and-a-half years instead of being brought to court.

Chinese ban no impact on property sales

The restrictions introduced by the Chinese government to reduce outbound investment in real estate have yet to impact property sales according to the Cyprus Chambers of Commerce and Industry (Keve).

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.

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

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.

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.

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

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.

Some relief for blighted Paradise Hills

Home buyers on the blighted Paradise Hills estate at Marathounda in Paphos may receive assistance from the authorities to prevent a repetition of last winter’s heavy flooding caused by a rainwater drainage pipe.

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