Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: June, 2013

How long is the long-run?

How can the government carry out the necessary reforms if its coalition is weak and its main supporters are those who are most heavily indebted in a country that went bust because of too much debt?

Paphos family unable to leave stricken home

Despite being ordered to leave their home on the troubled development at Armou that is slipping down a hillside, a family of four remains as they have no viable alternative at the present time.

Developers warned over Chinese market

Many Chinese people who have bought properties in Cyprus have felt cheated and complained according to Huali Che, president of the Chinese friendship association in Cyprus.

Island of lost dreams for some

BBC report into the collapse of the Cyprus banks that robbed many people of their life savings and left some with half-finished properties turning their dream of a home in the sun into a nightmare.

Meeting of Y Liasides Developers Ltd purchasers

Purchasers of Y Liasides Developers Ltd properties are invited to attend a meeting convened by the liquidator of the company at the Amathus Beach Hotel in Paphos (Cyprus) on 28th June 2013.

Bills to protect homeowners from eviction discussed

Two bills designed to prevent banks seizing primary residences used as collateral for non-performing loans below 300,000 Euro have been discussed by parliament's legal affairs committee.

New home construction down 40 per cent

Figures released by the Cyprus Statistical Service earlier today show a dramatic drop in the number of building permits authorised for the construction of new homes in March with their number falling 40 per cent compared with last year.

Home buyers may pay IPT before getting Title Deeds

A Cypriot MP has tabled a bill for discussion at the House Finance Committee requiring property buyers to pay Immovable Property Tax even though they do not have the Title Deeds to the property they have purchased.

Property sales plumb new depths in May

Property sales in Cyprus during May recorded their biggest decline in recent years with sales declining 75 per cent compared with May 2012 and numbers falling in all districts across the island.

The sniffing has started

Despite pay cuts, rising unemployment, haircuts on bank deposits, the closure of the island's second largest bank, etc. there have been no demonstrations, strikes or union protests; Cyprus is a funny little place.

Golf course at Secret Valley to open soon

A new 18 hole golf course at Secret Valley, which is part of the Venus Rock Resort development, is expected to open soon following the recent deal negotiated with China Glory National Investment.

Free tickets to ‘A Place in the Sun Live’ at the NEC

Channel 4 viewers may qualify for free tickets to this autumn's 'A Place in the Sun Live' overseas property exhibition that is being held at the NEC in Birmingham on the 27th to 29th September 2013.

Loans of one billion euros to bank board members

Confidential data from the Central Bank reveals that the Bank of Cyprus and the Cyprus Popular advanced credit facilities of more than one billion euros to their board members in 2011.

President asks ETEK for advice on Title Deeds

Faced with the problem of clearing the current backlog of some 100,000 Title Deeds, some of which go back more than two decades, President Anastasiades has asked ETEK for advice.

Fugitive lawyer appears in court

A lawyer, who was believed to have fled Cyprus with his wife in 2006 allegedly taking with him client funds estimated to be more than three million Cyprus Pounds, has appeared in court.

Property problems in Cyprus

The British High Commissioner to Cyprus, Matthew Kidd, attended a meeting in London last month of the All Party Parliamentary Group for the Defence of the Interests of British Property Owners in Cyprus.

Redefinition of non-performing loans

Changes to the definition of non-performing loans to comply with European and IFRS accounting standards are necessary to restore Cyprus' credibility as a regional financial hub.

Bank seeks bankruptcy for Paradise Hills developer

A bankruptcy order has been issued against a Brit believed to be a director of MDB Properties Limited, the company that constructed the unfinished Paradise Hills development in Marathounda.

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.