Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: June, 2015

Shed a tear for the whinging banks

The Cypriot banks that failed to manage property developers' loans are whinging that they cannot be held responsible for developers using the money they received from house sales for some other purpose.

Insolvency action plan

Cyprus' action plan for implementing the insolvency framework will soon be completed and is expected to be submitted to the troika of international lenders around the beginning of July.

Betrayed by the fourth estate

The Fourth Estate, typically the independent press or media, has betrayed us all enabling the First and Second estates, the elite, to run unchecked, as he Third became increasingly self-centred.

Property transfer fee reduction

A 50 per cent reduction in the Property Transfer Fees is being considered by government to help clear the Title Deed backlog as part of the changes designed to rationalise property taxation.

Cabinet approves hidden mortgages bill

Interior Minister Socrates Hasikos has announced that the basis of the bill to resolve the 'hidden mortgages' problem that prevents thousands obtaining Title Deeds to the property they purchased has been agreed by the Cabinet.

Cyprus property sales falter in May

The number of properties sold in Cyprus during May fell compared with the numbers sold in May 2014 with sales falling in all districts; the first monthly drop in sales since November last year.

Eurogroup statement on Cyprus

The Eurogroup has called on Cyprus to tackle the very high stock of arrears by facilitating the sale of loans and ensuring that title deeds are transferred to property buyers without delay.

Unlicensed swimming pool health hazard

Unlicensed swimming pools in Paphos are a major health hazard - they lie half empty, some with stagnant water and this is attracting mosquitoes because no-one's available to look after them.

Pissouri residents need urgent solution

Residents of the homes in Pissouri that have been damaged by land slippage have stressed they need an urgent solution before next winter; they cannot wait for the government report.

Home prices fell in first quarter

Home prices in Cyprus fell by an average of 1 per cent during the first quarter of 2015 compared to the previous quarter according the latest issue of the Cyprus Central Bank's Residential Property Price Index.

Crocodiles back on the menu

A crocodile park is back on the menu of possible tourist attractions in Cyprus despite earlier protests from residents of Psematismenos and Tochni where the park will probably be located.

Troika tightens screws on Cyprus property

The troika of Cyprus international lenders will not release the seventh tranche of the bailout loan until Cyprus property buyers who have paid in full have their title deeds transferred within 6 months.

Cyprus property title deeds backlog

The unacceptable delays in issuing property Title Deeds by the Cypriot authorities is in the spotlight once again with MEP Vicky Ford requesting an update on progress from the European Commission.

Cyprus home construction up again

Strong growth in the Cyprus construction sector was recorded for the second consecutive month in March with the number building permits authorised for new homes increasing compared to last year.

Primary residence protection scheme

The Cyprus Land Development Organisation is to manage a scheme aimed at protecting the primary residence or the business premises of small debtors from repossession by the banks.

Decline in Cyprus property prices continues

Although property prices in Cyprus continued to decline in all districts during the first quarter of 2015, there are indications that residential property prices in Paphos, Larnaca and Famagusta may be stabilising.

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.