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Archive for April, 2015

Home repossession ban extended

Parliament passed a bill by the slimmest of majorities to extend the ban on repossessing homes whose purchasers have no Title Deeds even though they may have paid for them in full.

Valuation appeal deadline approaching

The deadline for Cyprus property owners to appeal the Land Registry’s property valuation and correct any other mistakes expires on April 24, the Interior Ministry said in an announcement.

Title deeds saga likely to be kicked down the road

The fate of the title deeds law which the President refused to sign will be decided by the plenum on Friday, although it seems likely that MPs will kick the can further down the road again.

US firm wants Cyprus casino licence

Beverly Hills-based company Realty Group International (RGI) is seeking casino operators and investors to purchase land to build a ‘super casino’ in the Mediterranean island of Cyprus.

House prices fall in Cyprus

House prices fell by 3.0 per cent in Cyprus, over the fourth quarter of 2014 and by 3.3 per cent compared to the fourth quarter of 2013 according to today’s report published by Eurostat.

Insolvency framework vote next week

The Cyprus News Agency has reported that a plenary session of parliament will convene next week to discuss and vote on the insolvency framework while President Anastasiades is in Athens.

Pledge to protect paid-up buyers

Following President Anastasiades rejection of the ‘home buyers protection bill’ the Interior Minister has instructed the House of Representatives to draft a bill to protect paid-up buyers from repossession.

Property sales improve but…

The latest property sales statistics for Cyprus published by the Department of Lands and Surveys report a 31 per cent increase in sales during March compared with March 2014

President abandons home buyers

In a move that many consider will destroy the island’s property market, President Anastasiades has rejected the ‘home buyers’ protection bill’ passed by Parliament on 19th March.

Capital controls to end on Monday

President Nicos Anastasiades has announced that Cyprus will eliminate the last of the capital controls, which were imposed in April 2013 as part of a €10 billion European bailout, on Monday 6th April.

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