Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Yearly Archives: 2015

Reduced property transfer fees (update)

The law reducing the Cyprus Property Transfer Fees for transfers that take place before 31 December 2016 has been published and will be particularly welcomed by those waiting for their deeds.

Aristo innocent

Theodoros Aristodemou, the founder of Aristo developers and former chairman of the Bank of Cyprus and three others have been found innocent of all charges relating to the alleged illegal division land at Skali.

Troika turns up the heat on Title Deeds

Cyprus will not receive the next tranche of the bailout loan from the troika until it enacts legislation to protect those home buyers who have paid for their properties but have not received Title Deeds.

Construction activity worst in Europe

Construction activity in Cyprus suffered the biggest decline in production year-on-year in Europe during the first quarter of 2015 according to statistics published in yesterday's Eurostat newsrelease.

Who is parliament trying to protect?

We have to ask the question who is the Cyprus parliament trying to protect following the decision of the House Finance Committee not to put the 'hidden mortgages' bill before a plenary meeting of the House.

Pissouri report this month

Home owners living in the Limnes (lakes) area of Pissouri met yesterday to hear what progress was being made to resolve the land slippage problem causing structural damage to their properties.

September vote on hidden mortgages bill

A vote on the 'hidden mortgages' bill designed to resolve the mess of those who have paid for their property but cannot get its Title Deed because it was mortgaged by the developer will take place in September.

Troika starts seventh review

The troika of Cyprus' international lenders started its seventh review of the island's economic adjustment programme yesterday with the repossession of mortgaged properties high on its agenda.

Aristo trial court ruling July 28

The court will issue its judgement in the case against Theodoros Aristodemou, the founder of Aristo developers and former chairman of the Bank of Cyprus, and three others on July 28.

Crocodile park protest tomorrow

A protest against the proposed crocodile park in Cyprus near the Choirokoitia exit on the Nicosia-Limassol highway will be held tomorrow at 11:00 am outside the Ministry of Agriculture and Environment.

MP defends hidden mortgages delay

Cypriot MP Giorgos Perdikis has defended the delay in passing the 'hidden mortgages' bill saying that "If they (the government) had wanted the (title deeds) bill expedited they should have asked."

Cyprus home construction weakens

The previous strong growth in new home construction in Cyprus was reversed in April with the number building permits authorised by the authorities for new homes falling compared to last year.

MPs slammed over hidden mortgages bill

The Cyprus Interior Minister Socratis Hasikos slammed MPs for shelving the Title Deeds bill designed to address the inability of home buyers to get the deeds to the property they purchased.

Property sales increase (Updated)

The number of properties sold in Cyprus during June increased compared with the same month last year according to official statistics published by the Department of Lands & Surveys.

Parliament approves casino bill

Legislation passed by a majority Cyprus MPs at the plenary session of parliament earlier today paves the way to the operation of a casino resort in Cyprus after many months of discussion.

Property transfer fees halved

Following a unanimous vote by MPs at the House plenary earlier today, Property Transfer Fees are to be cut by 50 per cent on all property sales that take place before 31 December 2016.

Hidden mortgages & tax bills delayed

The bills designed to rationalise Cyprus' various property taxes and address 'hidden mortgages' agreed by government will not be put to a plenary meeting of the House this Thursday as planned.

Fraudsters target property sellers

People selling property in Cyprus are being targeted by fraudsters claiming to be from a company called 'Prime Consortium' who are trying to obtain their bank account details in return for a 10 per cent deposit.

Real estate tax restructuring a must

Cyprus real estate taxes are steep, unpredictable and complex and must be reduced and simplified if the island's property sector is to survive and prosper; owning property must be profitable.

Immovable Property Tax 2015

Revised Immovable Property Tax rates for 2015 are contained in one of a series of bills submitted by the Cyprus government to parliament, which are aimed at modernising the island's taxation system.

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.