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All reports tagged with: "property developers"

How many trapped buyers?

Earlier today the Greek language newspaper Χαραυγή (Daybreak) published statistics on the number of trapped buyers unable to get their Title Deeds because of various unpaid developer debts.

“The problem is huge” says director

No-one knows precisely how many properties that are burdened with a developer’s mortgage have been sold to unsuspecting buyers, but the problem is huge says the Director of the Department of Lands and Surveys.

Cyprus major tax debtors list

Cyprus Finance Minister Haris Georgiades’ list of the top 50 tax debtors includes property developers, large football clubs and hoteliers and has been published in the public interest by Stockwatch.

Delinquent developers ultimatum

The Bank of Cyprus is to offer a last chance to delinquent developers, including Leptos Estates, Aristo Developers, Pafilia Property Developers, to start repaying their debts or face the consequences.

Non-performing loans continue to mount

Latest information released by the Cyprus Central Bank shows that non-performing loans continue to mount with property developers having amassed billions of debts that they are unable to repay.

Developers call for tax changes

Property developers have requested a change to property tax legislation voted by the House last year to avoid the injustices that occurred, CEO of Aristo Developers Theodoros Aristodemou said.

Property Developers: Run Forrest! Run!

If property developers fail to repay their bank loans, then the banks may not have sufficient funds to repay us the money that we deposited with them that they used to finance these loans.

Developers want more time to pay banks

A spokesman for the island’s property developers believes that a fire sale of real estate during a recession would not be good for the country and developers are asking for more time to settle their debts.

Special unit for tax dodgers

In the wake of yesterday’s report about the thirty two property development companies that have yet to settle their large Immovable Property Tax bills, the government is planning a special unit to deal with tax dodgers.

Playing games with property taxes

When you consider that a single person who owns a property pays 50 per cent more Immovable Property Tax than a couple or twice as much as four joint owners of an identical property, doesn’t it seem unfair?

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