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26th April 2024
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Troika anticipates property market recovery

The chairman of the Cyprus Land and Building Developers Association (LBDA) has reported that the Troika believes that there will be a recovery in the island's property market in 2014.
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NPLs of 22 developers highlighted by Troika

Troika calls for the non-performing loans of the top 22 corporates and real estate developers to be dealt with by "Special Projects Division" within the Bank of Cyprus to get them performing again – or seize collateral.
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Revised Memorandum of Understanding (Updated)

Update 11 November. Updated MoU available. Earlier today the Finance Minister and the Troika agreed an updated MoU; discussions included the avoidance of mass and uncontrollable liquidations resulting from non-performing loans.
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Immovable Property Tax vote set for Thursday

Having debated changes to Immovable Property Tax for more than a month, it is expected that MPs will vote on the various proposals to amend the law at a Plenary session of parliament on Thursday.
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Transfer fee penalty for delays

The government is considering a change in the law that will impose a penalty of a 10 per cent increase in the Property Transfer Fees payable for buyers who delay depositing their contract of sale.
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Revised property tax bill vote

The House plenum will vote today on an amended bill to increase the rate of Immovable Property Tax, which was part of the preliminary agreement between Cyprus and its international lenders.
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Property tax bill about-turn

Following representations from hoteliers, property developers and others the government is rethinking its property tax bill which aimed to raise €180 million; €120 million more than suggested by the troika.
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Developers unhappy with property tax changes

The Land and Building Developers Association has warned that the new property tax regime agreed as part of the island's bailout conditions will threaten prospects for the sector's recovery.

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