Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: April, 2012

Contract for marina at Ayia Napa signed

After years of discussions and countless hours of dialogue involving two governments and six ministers, a contract has been agreed and signed for the long-awaited marina project at Ayia Napa.

Popular bank may need government bailout

The Cyprus government may have to pump up to 2.5 billion Euros into the Popular Bank to cover its losses resulting from the write-down on its holdings of Greek Government bonds according to newspaper reports.

Court rejects appeal to cut Gary Robb’s sentence

The Island's Supreme Court has rejected an appeal by Gary Robb's lawyers to reduce his jail sentence for the appropriation of Greek Cypriot property in the northern Turkish occupied areas.

Property industry problems to be discussed on Monday

Problems plaguing the Island's property industry will be discussed by the Cyprus Land and Building Developers Association's Annual General Meeting, which is being held at the Nicosia Hilton hotel on Monday.

Timeshare touts are back in Paphos

Despite the police have made some efforts to clear the streets of touts plus endless meetings with government departments, timeshare touts in Paphos are continuing to hassle tourists.

Banks should offload distressed properties

The banks need to offload billions of Euros of property left on their books by bankrupt developers and offer 100 percent mortgages spread over 40 years, similar to those being offered in Spain.

Larnaca golf property group to hold London meeting

The Larnaca Golf Property Action Group (LGPAG) will be holding a meeting in North London later this month. Those wishing to attend should complete a booking form on their website.

Efforts to combat illegal real estate agents stepped up

Court orders have been issued against a number of unregistered estate agents in Cyprus, some of whom appear to be British, to stop them from practising until a final adjudication of their cases has been made.

Bill to repossess homes put on the backburner

The Interior Ministry has informed parliament that a bill enabling mortgaged properties to be repossessed and auctioned off has been "suspended indefinitely due to the economic crisis."

Central bank reports property price falls intensifying

The fall in the prices of houses and apartments across Cyprus intensified during the final quarter of last year according the latest statistics published by the Central Bank on Monday.

Overseas property sales continue to shrink

Overseas investment in the Cyprus real estate market continues to dwindle with the number of sales falling a quarter during the first three months of 2012 compared to the same period last year.

Home sales continue slide despite incentives

Despite cuts in VAT and transfer taxes, and revised laws designed to improve consumer protection, the number of properties being sold in Cyprus is continuing to decline according to government figures.

Property transactions examined under microscope

Real estate market research company Leaf Research has put more than 23,000 property transactions in Larnaca under the microscope to provide a revealing insight into the changing nature of its property market.

Protest at ‘A Place in the Sun Live’ property exhibition

A group of property buyers continued to raise awareness of the problems associated with buying property in Cyprus by holding a peaceful protest outside the 'A Place in the Sun Live' exhibition at Earls Court.

Most Read

Property sales collapse hits all markets

The historic collapse of 80 per cent in property sales in April hit the local and overseas market segments according to statistics from the Department of Lands & Surveys.

Historic collapse of property sales

Property sales in Cyprus have collapsed as a result of the coronavirus pandemic to a level only seen once before when the events of March 2013 made Cyprus a household name around the world.

Building permits maintaining strong growth

The number of building permits authorised in Cyprus during February 2020 provided for the construction of 680 new homes; an increase of 18 per cent compared to February 2019 according to official figures.

Cyprus passport programme under fire again

The Cyprus citizenship by investment programme, which enables well-heeled foreigners to obtain an EU passport for investments of at least €2 million, has come under fire again from the European Union.