Cyprus Property News magazine for overseas buyers & real estate investors

Friday 10th July 2020

Monthly Archives: June, 2014

Dramatic fall in Cyprus property prices

Over the past year residential house prices in Cyprus have fallen by 7.8 per cent while apartment prices have fallen 10.7 per cent, according the RICS Cyprus Property Price Index for Q1 2014.

Cyprus property values updated

Announcing the completion of the task of updating Cyprus property values as part of the island's bailout agreement, Interior Minister commented that privately owned land in Cyprus is worth some €200 billion.

Swiss Franc loans breakthrough

Out of court settlements in connection with the alleged mis-selling of Swiss Franc loans have been widely reported in the Cyprus and UK media and we have been inundated with requests for further information.

Limassol marina open for business

President Nicos Anastasiades presided over the official opening ceremony of the Limassol marina on Thursday describing it as "a jewel for Limassol and for Cyprus" according to media reports.

No more escape for tax cheats

Those with tax arrears exceeding €3,000 will be prevented from selling or transferring their property under a new law passed by the Cyprus government to help with the crackdown on tax evasion.

Bank of Cyprus results analysis

There are some concerns highlighted in the Bank of Cyprus Group Financial results published a short time ago that suggest that the island's largest bank is not out of the woods yet.

Larnaca project sold to Russian investors

The land on which the Kimon Phinikoudes project in Larnaca is to be built together with its designs has been sold by the Lefkaritis family to a group of Russian investors for an undisclosed sum.

Cyprus drops in Top of the Props chart

Cyprus dropped to fifteenth 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.

Fourth highest fall in house prices

Although house prices have gone through the roof in most of the 52 countries listed in the latest IMF Global Housing Watch report, house prices in Cyprus suffered the fourth highest fall.

Distressed borrowers threaten to revolt

As banks are taking defaulting borrowers to court rather than exhausting options under the Cyprus Central Bank's directive on loan restructuring, distressed borrowers are threatening to freeze loan payments.

Sweeping powers for taxman

Sweeping new powers for the taxman could further impede the ability of a property buyer to secure the Title Deeds to the property they've purchased if the tax debtor fails to settle his tax bill.

Building permits down 10% in the first quarter

The number of building permits issued in March increased compared with the corresponding month of last year, but their numbers have declined 10.3% during the first quarter of 2014.

China Glory deal for Venus Rock terminated

Aristo developers is reported to be in talks with two further potential investors for its Venus Rock development following the termination of its agreement with China Glory Investment Group.

Cyprus: Dealing with a crisis

Hit by a severe crisis, Cyprus received financial assistance from the international community in May 2013. One year after, this IMF video explains the origin of the crisis and the subsequent evolution of the country's economy.

Property sales record strong growth

Property sales in Cyprus increased for the third consecutive month in May with strong growth recorded in all districts compared to May 2013 according to the latest figures from the Department of Lands and Surveys.

Creating and issuing Title Deeds

Many people wonder why it takes so long for Title Deeds to be issued by District Lands Offices; here is an article contributed by one of our regular readers explaining the process in detail.

Land Registry defies court judgement

The Famagusta Land Registry office may find itself in contempt of court after refusing to implement a court order for Specific Performance instructing it to transfer a property to its rightful owners.

Most Read

Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million.

Corrupt lawyers continue to plunder estates

Corrupt lawyersin Cyprus continue to plunder the estates of their deceased clients by calculating their fees for administering estates on the Cyprus Bar Association's 'Minimum Fee Regulations', which were abolished in 2018

Cyprus house price index up 2.5 per cent

The Cyprus house price index rose by an average of 2.5 per cent in the first quarter of 2020 compared to the previous quarter according to official figures from the Cyprus Statistical Service (CYSTAT)

MPs commit to expedite citizenship bills

MPs have committed to expediting the bills and regulations aimed at improving the transparency of the citizenship-by-investment programme, so that the items can be voted on before the House breaks for the summer recess.