Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: September, 2015

Property prices falling more slowly

The latest residential property price index published by the Cyprus Central Bank reports that house prices are falling more slowly and the CB expects them to stabilise around 2006 levels.

Video killed the radio star

Nobody really understands what property valuers do, they don't make 'big bucks' like Chartered Accountants and everyone is usually shouting at them to 'produce' the value that they want.

Inheritance in the EU

Citizens of both EU and non-EU countries who are resident in Cyprus may choose which EU country’s courts will have jurisdiction to deal with the inheritance and which law the courts will apply.

NPLs remain obstinately high

Latest figures from the Cyprus Central Bank reveal that non-performing loans (NPLs) continue to remain high despite the implementation of the foreclosures and insolvency laws three months ago.

Swiss Franc loan solution sought

The Cyprus Central Bank is going to investigate the impact on the banks in the event that they convert loans denominated in Swiss Francs, which amount to €1 billion, into Euro.

Further progress anticipated

The latest MoU between Cyprus and the troika of its international lenders will result in further progress being made to resolve the many issues faced by those who plan to buy or who have bought property in Cyprus.

A thousand trapped buyers apply for deeds

During the nine days since the 'hidden mortgage' law came into force around 1,000 'trapped buyers' who have paid for their property but cannot get their Title Deeds have submitted applications.

IPT payment deadline & discount

Earlier today Cyprus MPs voted to extend the Immovable Property Tax (IPT) payment deadline until the end of December; discounts offered for payments made by end November.

Call for higher IPT discounts

Opposition political parties DIKO and DISY called for a bigger discount on Immovable Property Tax (IPT) on Monday arguing that the state stands to collect more revenue than required.

IMF review could release €125 million

The Cyprus News Agency (CNA) has reported that the Executive Board of the International Monetary Fund (IMF) will discuss the eighth review of Cyprus' economic adjustment program on 23 September.

Immovable Property Tax discount

The Cyprus cabinet has approved a bill to provide a discount on Immovable Property Tax for early-bird payers and extend the deadline for paying the property tax by two months until 30 November.

August property sales weaken

Reversing the positive trend of recent months, the number of property sales in Cyprus during August fell compared with the number sold in August 2014 according to the Department of Lands & Surveys.

Hidden mortgage bill passed

At today's plenary session of the Cyprus parliament MPs approved the hidden mortgage bill designed to resolve the issue of 'trapped' property buyers who are unable to obtain Title Deeds due to their developer's debts.

Hidden mortgage bill expected to pass

The hidden mortgage bill, designed to assist trapped home buyers who were duped into buying property built on land that nefarious developers had earlier mortgaged to the bank, is expected to pass at tomorrow's plenary.

Hole in hidden mortgage bill plugged

The hole in the hidden mortgage bill, designed to protect those who were duped into buying property built on land that nefarious developers had earlier mortgaged to the bank has been plugged.

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.