Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday 11th August 2020

Monthly Archives: February, 2015

Problem housing loans below 10 percent

Based on the preliminary results from the Bank of Cyprus, problematic housing loans account for just 9.4% of its non-performing loans of €12.7 billion and only 10.2% of its NPLs in Cyprus.

Property price falls reduce

Although the price of residential properties in Cyprus continued to fall over the fourth quarter of 2014, the decrease was less than in previous quarters according to the island's Central Bank.

Cyprus real estate dynamics report

Ernst & Young Cyprus Ltd (EY) has published the first edition of its Real Estate Dynamics Report, which contains an analysis of recent developments in the Cyprus construction and real estate sectors.

Troikans bump into elephant

During their recent visit to Cyprus, the delegation from the island's troika of international lenders bumped into the elephant in the room; the unacceptable delay in issuing Title Deeds.

Investors eye Venus Rock

A number of investors are reported to have shown a keen interest in the Venus Rock project at the recent Cyprus Investors' Summit, which was held recently at the Four Seasons Hotel in Limassol.

Guarantor’s proposals to troika

It is hoped that the troika of international lenders will approve the provisions in the fifth bill of the insolvency package so that it may go to the cabinet in early March for ratification and then to parliament.

Construction at record low

Construction activity in Cyprus during 2014 hit a record low with the number of building permits issued, their value and their total area all falling compared to 2013 according to the Cyprus Statistical Service.

January sales up

The number of properties sold in Cyprus during January increased compared to the number sold in January 2014 according to official statistics from the Department of Lands and Surveys.

Foreclosures hurdle must be overcome

The foreclosures hurdle must be overcome before the Cyprus adjustment programme can be brought back on track, said Eurogroup president Jeroen Dijsselbloem following a Eurogroup meeting on Monday.

Deal on foreclosures may be close

The Cyprus government plans to submit the last of the five bills comprising the insolvency framework to parliament within the next few days according to a source in the Finance Ministry.

Property deals stumble at prices

Property prices and uncertainty about foreclosures are hampering large foreign investments in mature development projects according to would-be investors at the Cyprus Investors Summit.

Cyprus raises overseas transfer limit

The Cypriot authorities have eased the restrictions on the movement of capital overseas; individuals will be able to transfer up to €50,000 a month out of the country from Monday 16th February.

New home construction down 35 per cent

Figures from the Cyprus Statistical Service (CYSTAT) reveal that building permits authorised for the construction of new homes fell 35 per cent last November compared with the same period the previous year.

Swiss Franc loan court cases in March

The first of many court cases against Cypriot banks that issued Swiss Franc loans to those buying property in Cyprus will probably be heard in March according to a report in the FTAdvisor.

Cyprus major tax debtors list

Cyprus Finance Minister Haris Georgiades' list of the top 50 tax debtors includes property developers, large football clubs and hoteliers and has been published in the public interest by Stockwatch.

Delinquent developers ultimatum

The Bank of Cyprus is to offer a last chance to delinquent developers, including Leptos Estates, Aristo Developers, Pafilia Property Developers, to start repaying their debts or face the consequences.

Cyprus agreement impossible

The Troika of Cyprus' international lenders has announced that it was not possible to reach an agreement on the review of the Cyprus programme due to the suspension of the foreclosure framework.

Hourican lambasted by opposition parties

Bank of Cyprus CEO John Hourican has come under fire from opposition parties over comments attributed to him in a leaked email that said politicians are protecting larger businesses in Cyprus.

Stalemate over bad loan guarantors

Amidst alleged claims that Cyprus politicians may be protecting larger businesses, disagreements have arisen between the government and the troika over the treatment of bad loan guarantors.

Property prices continue to weaken

Property prices across Cyprus continued to weaken during the fourth quarter of 2014 with both house and apartment prices falling according to the RICS Cyprus Property Price Index.

Most Read

Small rise in construction of new homes

The Cyprus construction sector staged a slight recovery May falling by just 0.1% compared to May 2019 according to official figures released by the...

Property sales to foreigners continue to fall

The number of Cyprus property sales to foreigners continued to fall in July with numbers down to 36 per cent on the numbers sold in July 2019 according to the Department of Lands and Surveys.

Property sales in Cyprus improving

The number of property sales in Cyprus is improving following the government's decision to introduce an interest rate subsidy for new housing loans granted from 1st March 2020 until 31st December 2020.

Tender awarded for Larnaca port and marina

The tender to develop the Larnaca port and marina has been awarded to Eldeman Holding BV and Alexandrou Corporate Services, comprised of Israeli and Cypriot interests.

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