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Archive for May, 2013

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.

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