Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: September, 2013

When will they ever learn?

The emerging Chinese market is being put under threat from the "appalling practices" of those in the real-estate sector according to the general secretary of the Chamber of Commerce and Industry.

Free Swiss Franc loan seminar in Birmingham

Birmingham City Football Club is the venue for a free seminar planned for Sunday 20th October for those who have bought property in Cyprus with loans denominated in Swiss Francs.

Immovable Property Tax vote set for Thursday

Having debated changes to Immovable Property Tax for more than a month, it is expected that MPs will vote on the various proposals to amend the law at a Plenary session of parliament on Thursday.

Sharp increase in non-performing loans

A recently issued report on Cyprus issued by the International Monetary Fund (IMF) anticipates a sharp increase in non-performing loans following their reclassification to include all loans in arrears for more than 90 days.

Alpha Bank on the back foot

Alpha Bank Cyprus has written to a number of their clients offering to assist them to continue repaying their obligations to the Bank or to fully settle the loan with a significant discount.

Capital controls to end in January 2014

Cyprus plans to lift all restrictions on the movement of money in January 2014 after becoming the first euro member to seize bank deposits and impose capital controls to avert a financial collapse.

Get a breakdown of your Immovable Property Tax bill

Following complaints from owners of multiple properties that they were not being issued with detailed statements of how their IPT has been calculated, the Cyprus Inland Revenue has acted to resolve the problem.

New home construction plummets

Today's figures from the Cyprus Statistical Service reveal that the number of building permits authorised in June for the construction of new homes fell sharply compared with the number authorised in June 2012.

Land Registry myth exploded

The myth that Cyprus has one of the best Land Registries in the world was exploded yesterday when Parliament heard that it does not have exact ownership details for a quarter of a million properties.

Cyprus at number twelve in Top of the Props

The interest being shown in Cyprus as a destination for overseas property investors improved last month according to the 'Top of the Props' chart published by the TheMoveChannel.com.

Brits continue to set up home here

It appears that an increasing numbers of Brits are deciding to live in Cyprus but they are being sensible and very cautious about buying and choosing to rent property on a three to six month basis.

Town Planning Amnesty extended to 2014

The period during which 'Statements of Intent' can be submitted under the provisions of the Town Planning Amnesty to legitimise minor planning infringements has been further extended until 30th April 2014.

The world’s weakest housing market

Cyprus was the world's weakest housing market during the year to the second quarter of 2013, based on the latest survey of house price statistics conducted by the Global Property Guide.

Deposit interest rates fall while loan interest rates rise

Although interest rates banks in Cyprus are paying their depositors have plummeted in recent times, the interest rates they are charging borrowers are increasing according to the European Central Bank.

Rules to limit risks for home buyers

In a move that has come too late to help those who bought property in Cyprus with home loans denominated in Swiss Francs, the European Parliament has outlined rules to limit risks for home buyers.

Title Deed issuance progress and mortgages

The Department of Lands and Surveys has published the first in a series of statistics relating to one of the provisions agreed between Cyprus and the troika in the Memorandum of Understanding (MoU).

On-going collapse in Cyprus property sales

The number of properties sold in Cyprus continued to fall in August dropping 16 per cent compared with August 2012 according to figures published by the Department of Lands and Surveys.

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.