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Monthly Archives: August, 2015

Articles

Some relief for trapped buyers

Angelos Anastasiou -
Although the 'hidden mortgages' bill is a positive step in the right direction, more needs to be done to resolve the issue of trapped buyers to enable those who have paid for their property to obtain its Title Deed.
News

Banks to recoup loans by ‘hook or crook’

Elias Hazou -
Banks must find a way to recoup loans granted to insolvent developers once 'trapped' properties are released to home buyers, Interior Minister Socrates Hasikos said following a joint session of the House interior and finance committees.
News

NPLs long road ahead

Nigel Howarth -
New figures published by the Cyprus Central Bank show that the banks still have a long way to go in reducing NPLs, which increased by €68.2 million at the end of June 2015 to stand at €27.04 billion.
News

Debt relief and foreclosures

Nigel Howarth -
While the Cyprus Insolvency Service has received four applications since the scheme came into force, it seems likely that the Bank of Cyprus will be the first lender to foreclose on property offered as loan collateral.
Articles

Property sector challenges remain

Nigel Howarth -
Ernst & Young Cyprus Ltd (EY) has published the second edition of its Real Estate Dynamics Report, which contains an analysis of recent developments in the Cyprus construction and property sectors.
News

Insolvency service ‘inundated’

Elias Hazou -
The newly established Insolvency Service, which was set up by the Cyprus government as part of the insolvency framework agreed with the troika, has been inundated with requests for information.

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