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Archive for July, 2012

Judgement day for banks approaching?

Banks do not count loans that are fully secure as being nonperforming even though they have not been serviced in 90 days. If the Troika treats such loans as nonperforming, several more billions will be needed to recapitalise them.

It is like getting blood from a stone

Seven months after selling their house in Cyprus, a British couple finally received the proceeds of the sale from their Paralimni-based lawyer after they engaged another lawyer to collect their money from him.

Two million visitors and counting

Cyprus Property News welcomed its two millionth visitor earlier today and to celebrate we bring you a classic comedy film from 1964 showing a brick-by-brick account of the building of a young couple’s dream home.

Government approves first ever land swap deal

An unprecedented land swap deal involving the exchange of property between Greek Cypriot and Turkish Cypriot owners of land in the north and south of the island has been approved by the government.

Construction production index plummets

Conditions in the island’s construction industry have worsened dramatically in recent times, with production in the first quarter of the year shrinking at the highest rate since records began.

Cyprus construction sector decline continues

Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island’s financial and banking crisis deepens.

Real estate sales falter in June

The number of properties sold in Cyprus during June weakened, with the total number of contracts of sale deposited at Land Registry offices down 8 percent compared with June 2011.

Free Tickets to A Place In the Sun Live

Free tickets are available to the A Place In The Sun Live overseas property exhibition at NEC Birmingham between 28th – 30th September where advice on buying property in Cyprus and many other destinations will be given.

Title Deed chickens come home to roost

The Title Deed fiasco will be at the top of the agenda at a high-level meeting scheduled to be held next week between senior ranking EU officials and ministers from the Cyprus government.

Bank of Cyprus investigated by CYSEC

CYSEC has started a probe into whether the Bank of Cyprus’ management withheld information from shareholders at their recent meeting with the aim of misleading them and is also looking into issues of possible stock market manipulation.

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