Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: May, 2013

Probe into ‘suspicious’ Turkish Cypriot land deal

The cabinet has decided to appoint an investigative committee to look into the purchase of Turkish Cypriot land in Larnaca following an angry row between the present and former Interior Ministers.

Limitation time bomb six month fuse delay

The one year transition period provided for in the limitation law that Cyprus introduced in 2012 has been extended by six months following an agreement reached by parliament earlier this week.

Race to revalue half a million properties

The race is on to complete the revaluation of some 500,000 properties island-wide by the end of June 2014 to meet one of the bailout conditions agreed with Cyprus' international lenders last month.

Church unveils large-scale construction projects

The head of the Cyprus Orthodox Church, Archbishop Chrysostomos II, has unveiled plans to build a major hotel in Paphos with Russian investors, an English-speaking school in Nicosia and a geothermal park.

Chinese investors aim to pour 1.5 billion into Cyprus

A delegation from the Hong Kong-based conglomerate 'China Glory National Investment' was received by Cyprus President Nicos Anastasiades at the Presidential Palace on Monday.

Sale of Venus Rock Golf Resort

The sale of the Venus Rock Golf Resort to a Hong Kong based conglomerate of international investors has been announced in a press release issued by Dolphin Capital Investors Limited.

Immigration permits for non-EU nationals

The Interior Ministry recently announced changes to the procedures for granting Immigration Permits (Permanent Residence) to third country (non-EU) nationals who intend to invest in Cyprus.

Combatting construction sector decline

The Federation of Associations of Building Contractors Cyprus has submitted a number of proposals to the Government and political parties aimed at supporting the sector and creating conditions for its recovery.

Property highlights all that is wrong

For years, our administration and banks have cleverly created a captive audience, holding householders to ransom by refusing to issue title deeds. Oh yes, there is method in this title deed madness!

February building permits dip 24 per cent

Although February saw a 24 per cent dip in the number of building permits authorised compared with February 2012, the number issued for the construction of new homes increased by one fifth.

Valuing real estate in a mispriced market

In light of the current environment in Cyprus, valuers face difficulties and complications when valuing (mainly commercial) real estate due to the lack of sales data and other factors.

Home sales hit a record monthly low

With property sales in Cyprus once again hitting a record monthly low in April, there appears to be a growing interest by overseas buyers in the districts of Paphos, Larnaca and Famagusta.

Default judgement against Cyprus bank

It appears that the Marfin Popular Bank Public Limited Company (also known as the Laiki) may have failed to file a defence against an action heard in the High Court in London recently.

Bank accounts for all EU citizens

Europeans will have the right to open a basic bank account in any country of the EU, to switch bank accounts and see what fees they are being charged under a new Directive proposed by the European Commission.

Property tax bill approved by parliament

A majority of Cypriot MPs have approved an amended bill to increase the rate of Immovable Property Tax, which is part of the preliminary agreement between Cyprus and its international lenders.

Restructuring Cyprus loan agreements

There is no one size fits all solution to the problems faced by those who have bought property in Cyprus with a loan denominated in Swiss Francs that is going to remedy the situation.

Improving real estate investor confidence

In efforts to increase investor confidence in real estate, RICS and 15 other global property organisations have come together to address the issue of inconsistencies in the methods of property measurement.

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.