Cyprus Property News magazine for overseas buyers & real estate investors

Monday, June 1, 2020

Monthly Archives: October, 2016

Online property valuations revisited

A revised guide to finding Cyprus property valuations on the Department of Lands and Surveys website, which has undergone a major overhaul and now provides a multitude of additional features.

Threat to Paphos marina

A contractual dispute is threatening to derail Paphos marina following a demand by the contracting authority that the initial down payment by the consortium is submitted by November 10.

Fitch upgrades Cyprus to ‘BB-‘

Fitch Ratings has upgraded Cyprus by one notch from ‘B+’ to ‘BB-’ with a positive outlook on continuing strong progress in its adjustment following the 2013 banking crisis but warns that banks remain weak due to the high level of NPLs.

Cyprus property prices rise

The RICS Cyprus Property Prices Index for the second quarter of 2016 includes price changes in holiday homes for the first time with prices in both residential properties and holiday homes rising.

Coops to offer defaulting borrowers a discount

The Cooperative Central Bank is to offer a scheme enabling borrowers to receive a discount of up to 50 per cent on unsecured, terminated loans that have not been serviced for 1,000 days.

NPLs at post December 2014 low

Non-performing loans (NPLs) in the Cypriot banking system fell to a post December 2014 low in August according to statistics released by the Central Bank of Cyprus to stand at €24.55 billion.

Paphos’ water guzzling golf courses

Demand for water in Paphos is increasing as more golf courses are built in the district and if there is little rain again this winter there is a real possibility of severe water shortages again next year.

July building permits fall

The number of building permits authorised by the municipal authorities and the district administration offices during July 2016 stood at 442 according to the Cyprus Statistical Service.

Home prices continue to fall

Home prices in Cyprus are continuing to fall according to the Cyprus Statistical Service's 'Home Price Index' and Eurostat's 'House Price Index', both of which have been released in the last few days.

Legal limbo in Paradise

The Title Deed mess affected thousands of expat homeowners, but for those living on the Paradise Hills estate in Paphos it has been particularly brutal since their British developer went bust.

Taxed on olive tree he does not own

Olive trees have a special status in Cyprus because of their potential to bring in a significant income but here's a bizarre story about a Cypriot man who was forced to pay property tax on an olive tree he doesn’t own.

Nicosia protest against foreclosures

A protest outside the presidential palace in Nicosia against foreclosures of primary residences and business premises passed without incident on Thursday with the demonstrators dispersing by around 6pm.

First casino resort for Cyprus

The race to build and operate the first casino resort in Cyprus is now down to one candidate in a group led by Melco International Development Ltd following the decision of NagaCorp Ltd to pull out of the bidding process.

Troika: reforms must accelerate

Following the troika's recent mission to the island, the ECB and EC have urged Cyprus to accelerate the reform programme in a number of key areas including setting up a sustainable and efficient title deeds transfer system.

Property sales up 44 per cent

The number of properties sold in Cyprus during September rose by 44 per cent compared to September 2015 according to the latest official figures published by the Department of Lands and Surveys.

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.