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Archive for 2016

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.

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