Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday, June 2, 2020

Monthly Archives: April, 2014

Title Deeds issuance completed by year end

The Land Registry should complete its revaluation of all properties by June 2014 and the Finance Minister expects it to complete the issuance of Title Deeds as agreed with the troika by the end of the year.

Cyprus moves up in Top of the Props chart

Cyprus moved up one place in last month’s Top of the Props chart published by the TheMoveChannel.com which records the most searched for overseas destinations to buy property.

Standard & Poors & Fitch lifts ratings

Standard & Poors lifted its rating on Cyprus to B, while Fitch revised its outlook on the country to 'stable' saying that the economy "has proved more resilient than previously expected".

Possible ‘Development Bank’ to manage NPLs

The Bank of Cyprus Board of Directors is expected to decide today whether to establish a "development bank" to deal with the problems of non-performing loans according to state broadcaster CyBC.

Cowboy Builders investigate British developer

A British developer who turned the dreams of those looking forward to a peaceful retirement in Cyprus into nightmares came under the spotlight in the Channel 5 series 'Cowboy Builders Abroad'.

MEP questions clearance of Title Deed backlog (updated)

Update 24 April. MEP Robert Sturdy has raised a question in the European Parliament requesting the Commission for an update on the current state of affairs concerning the clearance of Cyprus' Title Deed backlog.

Property sales jump (updated)

Property sales in March increased 20 percent compared to the corresponding period last year according to official statistics published earlier this week by the Department of Lands and Surveys.

Escape to Limassol

Escape to the Continent returned to Cyprus in October last year to help David and Yiola, a retired couple from Cornwall, hunt for houses in the Limassol region of Cyprus for a permanent home.

The fly in the ointment

Parliament should go ahead and name-and-shame all those who have enjoyed privileged loans from the banks, some of which were for personal use and vast amounts were written off.

One in four construction firms bankrupt

The Registrar of Companies has been reported as saying that one in four construction firms in Cyprus are going bankrupt due to the pressure caused by the island's financial crisis.

Parliament lifts bank bailout burden from taxpayers

Depositors are to be better protected by one of a number of measures approved by the European Parliament earlier today and there will be less political meddling to keep ailing bank costs down.

Escape to Paphos

Cyprus is back on the UK overseas property map once again; the latest in a BBC series featured a programme on Paphos, while another to be broadcast on 22 April, focusses on Limassol.

You would be mad to buy a holiday home in Cyprus

You would have to be certifiably insane or just plain awash with money to even begin thinking about buying a holiday home in Cyprus; governments have really done nothing to resolve the Title Deeds disaster.

NPLs in the land of freebees and populism

Non-performing loans (NPLs) have reached €26 billion and continue their upward trend while property prices continue their downward march. Valuable time has been lost unnecessarily.

A meaningless exercise in financial futility

While in conversation at their club after a particularly satisfying luncheon, a few long-term banker acquaintances discuss the financial problems in the Cyprus property market as they sip their brandies.

Mortgage-to-rent scheme will be selective

Strict criteria will be applied to a mortgage-to-rent scheme currently being investigated as a means to enable those unable to maintain their mortgage repayments to remain in their homes rather than face its repossession.

Second largest price fall in EU

Residential property in Cyprus recorded the second largest price fall in the EU 28 and the biggest price fall in the Eurozone annually according to a Eurostat report published yesterday.

Getting your Title Deed issued

Those waiting for the all-important Title Deed to be issued for the property they purchased can request the Land Registry to issue its deeds, providing a Certificate of Approval for the property has been issued.

State should buy non-performing loans say experts

In efforts to protect primary residence from repossession without bringing more trouble on the banking system, a senior government adviser said the state should buy non-performing loans.

Mortgage-to-rent scheme study

The Cyprus government has instructed the Cyprus Land Development Corporation (CLDC) to study the mortgage-to-rent scheme employed in Ireland to help those having trouble maintaining their mortgage repayments.

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.