Cyprus Property News magazine for overseas buyers & real estate investors

Sunday, May 31, 2020

Monthly Archives: December, 2017

Our top 10 most read stories from Cyprus in 2017

We'll go over the top ten most read stories published by Cyprus Property News over the past 12 months, which include stories about trapped buyers, Swiss Franc loans and property taxes.

NPLs remain problematic says IMF

The high level of non-performing loans (NPLs) remain a problem for the Cyprus banking sector despite the strong growth boosting the island's economy says the IMF representative in Cyprus.

Anger over sea caves development

A development of six 'luxury' properties in the sea caves area of Peyia in Paphos has enraged many people in the area as the destruction of Cyprus' environment and natural beauty continues.

Crocodile park returns

Following a rejection of a crocodile park by the Psematismos and Athienou communities TSA Crocopark Ltd has approached the Achna district to discuss the possibility of a theme park.

More high-rise towers for Limassol

A further five high-rise towers are set to line the Limassol coast road; the 'Trilogy' project by Cybarco next to Enaerios and the 'Blue Marine' project by Leptos next to the Limassol marina.

New home building permits up 25 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 25.3 per cent in September 2017 compared to September 2016 according to the Cyprus Statistical Service.

Unfair contracts languishing at Legal Service

Fifty two decisions by the Cyprus Consumer Protection Service relating to unfair contracts have been languishing at the Legal Service for two-and-a-half years instead of being brought to court.

November property sales up 39%

Property sales in Cyprus rose 39 per cent in November compared with November 2016 with sales increasing in all districts according to official figures from the Department of Lands and Surveys.

Specific Performance Law – depositing contracts

Cyprus' replacement Specific Performance law, which came into force in 2011, provided that contracts of sale that were signed but not been lodged at the Land Registry to be lodged within six months of the law coming into force.

Paphos marina – call for President to intervene

Kissonerga community council is drafting a letter calling on the president to intervene to ensure that the construction of the Paphos marina at Potima goes ahead as quickly as possible.

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.